An earnings report on Bell Atlantic Corp. in Friday's Business section had an incorrect stock price and change for the close of trading Thursday. The correct price was $52.125, up 87.5 cents.
The Sun regrets the error.
Annual earnings for Bell Atlantic Corp., the parent of the Chesapeake & Potomac Telephone Co. of Maryland, increased by 7.6 percent, excluding a $1.55 billion noncash charge in 1991 for changes in the accounting of retiree benefits.
FOR THE RECORD - CORRECTION
The company attributed the increases to growth in the basic telephone business, stronger demand for new products and services, unexpected high growth in its wireless business and ,, various cost-cutting measures.
Bell ..... ..... ..... Ticker ..... Yesterday's
Atlantic Corp. ....... Symbol ...... Cls. ...Chg.
....... ...... ..........BEL ....... 10 1/2 . +1 5/8
Period ended
Dec. 31 ....... ...... 4th qtr. .... Year ago ... Chg.
Revenue ....... .... $3,254,200 ... $3,161,100 .. +2.9%
Net Income .... ...... $317,300 ..... $246,800 .. +28.6%
Primary EPS ... ...... .. $0.74 ..... .. $0.59 .. +25.4%
..... .... .... ...... Year .... .... Year ago* ... Chg.
Revenue ..... .... $12,647,000 .... $12,498,300 ... +1.2%
Net Income ........ $1,340,600 ...... ($324,400) .... NA
Primary EPS ....... .... $3.13 ...... .. ($0.72) .... NA
Figures in thousands (except per share data.)
* Results for 1991 include a charge of $1.55 billion, or $3.63 a share, for an accounting change related to retirement benefits.
