Sprint Corp, Kansas City, Missouri-based telecoms company, has reported pro forma results for its FON wireline business and PCS wireless business tracking stock. FON reported fourth quarter net income up 13.4% at $404.6 on revenues up 7.5% at $4,141.1m. The quarter included a results included a $104m one-time gain from the sale of local exchanges and other investments. For the year net income was up 11.9% at $1,535.3 on revenues up 7.7% at $16,016.9. Pro forma earnings per share for the FON stock were up 14.5% at $0.95 in the fourth quarter and up 12.8% at $3.60 for the year. The PCS group reported fourth quarter net loss at $646.5m up from $465.5m last time on revenues of $437.4 up from pro forma revenues of $147.5m last time. For the year, net loss reached $1,120.8m up from $1,466.2m last time on revenues of $1,225.4m up from pro forma 1997 revenues of $258m. In November 1998, Sprint recapitalized its common shares into two separate classes FON stock and PCS stock.
COMPANY RESULT: SPRINT CORP
