Bell Atlantic Corp. yesterday reported a net loss for 1991 of $222.7 million, reflecting the impact of a previously announced $1.55 billion charge for adoption of new accounting rules for retiree health and life insurance benefits under FAS 106.
Without the one-time charge, Bell Atlantic said it would have earned $1.33 billion, a 1.5 percent increase over 1990. Total operating revenues for 1991 remained flat at $12.3 billion.
Raymond Smith, Bell Atlantic's chairman and chief executive officer, said the recession, among other factors, affected the company's 1991 financial performance. Access lines for basic telephone service, which represents the core of Bell Atlantic's business, grew just 1.8 percent over 1990 to 17.7 million.