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January 27, 2010

AT&T Q4 revenues slightly down to $30.9bn

Wireless subscriber base up by 2.7 million during the quarter

By CBR Staff Writer

AT&T has reported revenues of $30.9bn in the fourth quarter of 2009, compared with $31.1bn in the same period last year and up slightly from the third quarter of 2009.

The company has posted an operating income of $4.86bn, compared to $4.89bn in the same period a year-ago. The operating income margin was 15.8%, the same as in the year-earlier quarter. Operating expenses were $26bn, compared to $26.2bn in the same period last year.

For the quarter ended Dec. 31, 2009, the company posted a net income of $3bn, compared to $2.4bn in the same period last year. Earnings per diluted share totaled $0.51, compared to $0.41 while cash from operating activities totaled $9bn.

The company’s wireless subscriber base grew by 2.7 million during the quarter, to reach to 85.1 million. Wireless data revenues from messaging, internet access to applications and related services surged 26.3% to $3.9bn.

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For the full year 2009, AT&T’s consolidated revenues totaled $123bn, compared to $124.0bn in 2008; operating expenses were $101.5bn, compared with $101.0bn; and net income was $12.5bn compared to $12.9bn in the same period last year.

Randall Stephenson, chairman and chief executive officer of AT&T, said: We had a solid 2009 and led the industry in the biggest growth driver – mobile broadband. Our fundamental outlook for the business is quite positive.

Our leadership in mobile broadband will continue to set us apart as we roll out even faster 3G speeds this year and begin deploying 4G capabilities in 2011. Our IP-based U-verse service continues to scale nicely, improving our consumer revenue profile. And we continue to see solid growth from mobile broadband and IP data services in the business segment.”

For the fiscal year 2010, the company expects capital expenditures to be in the range of $18bn to $19bn, and achieve a wireless OIBDA service margin in the low 40% range, and its longer-term wireless OIBDA service margin outlook continues to be in the mid-40% range.

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