DENVER-US West reported fourth quarter normalized, diluted earnings per share of 73 cents, an
increase of 5.8 percent from the 45 cents reported in fourth quarter 1997. For the year, diluted earnings per share were
$3.01, up 5.6 percent from 1997’s per share earnings of $2.85.
The company also reported $368 million in net
income, an increase over the $227 million reported for the same time last year.
“Growth in our core business
is solid, and our growth engines, related to wireless, data and Internet initiatives, are truly accelerating in most
competitive spaces,” said Sol Trujillo, president and chief executive officer of US West. “Our PCS business
nearly doubled in just one quarter, and we’re exceeding all industry projections for demand of our Internet-related
products.”
Total 1998 data revenues alone grew by 29 percent to $1.3 billion, and the company’s Internet
access service, US West.net, increased customer levels to more than 150,000.
Trujillo said the company expects to
achieve 12 to 14 percent earnings growth in the beginning of 1999, a year earlier than expected.
