Though the company cited an increase in long-distance volume for the improvement, it also benefited from the addition of revenue from wireless messaging services, which had previously been classified as discontinued items.
The improvement in profitability was also helped by a reduction in reorganization items to $30m, compared with $46m in June. The company warned that during the restructuring process, expenses will fluctuate from month to month as it implements cost-reduction plans.
MCI, formerly WorldCom, said it is on track to emerge from Chapter 11, and earlier this month concluded a deal designed to settle objections to its reorganization plan from two groups of dissident creditors. A bankruptcy judge is next month expected to deliver a ruling on the company’s progress.
Source: ComputerWire
