NEW YORK-At a recent conference of financial analysts, AT&T Chairman C. Michael Armstrong confirmed the company’s confidence in meeting its 1999 and 2000 financial targets.
“Our strategy for growth is on track as we transform AT&T from a domestic long-distance company to an any-distance, any-service global company,” said Armstrong. “No one should doubt our resolve to deliver customers a choice for local telephone service and more.”
Armstrong added that AT&T is off to a fast start in the residential local phone service market it recently entered in New York. The company has signed up more than 100,000 people since late last year with more than 40,000 in December alone.
Armstrong also announced that when AT&T reports fourth-quarter financial results later this month, the company expects total pro forma revenue to have grown between 5 percent and 7 percent in 1999. For 2000, Armstrong expects revenue to grow between 8 percent and 9 percent, a 30- to 60-percent increase from the revenue growth rate expected in 1999.
“We’ve met or exceeded our revenue growth commitments for seven consecutive quarters,” added Armstrong. “We intend to build on that track record as we execute our any-distance strategy.”
