MediaOne Group, Inc.
Consolidated Operations Highlights- As Reported (1)
(UNAUDITED)
Three Months Ended
March 31,
Dollars in millions, except
per share data 1999 1998
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REVENUES $ 665 $ 972
Cost of sales 269 317
Selling, general and admin. 185 307
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OPERATING CASH FLOW (2) 211 348
Depreciation & amortization (250) (348)
Interest expense, minority
guarantee, other (145) (172)
Equity losses in
unconsolidated ventures (115) (136)
Gains on sales of investments 194 17
Other expense (43) (37)
Income tax benefit 37 106
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LOSS FROM
CONTINUING OPERATIONS (111) (222)
Discontinued operations income,
net of tax (3) - 434
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NET INCOME (LOSS) (111) 212
Preferred dividends and accretion (14) (13)
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EARNINGS (LOSS) AVAILABLE
FOR COMMON STOCK $ (125) $ 199
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AVERAGE SHARES OUTSTANDING (4)
Basic and Diluted 603.8 608.3
BASIC AND DILUTED LOSS PER COMMON SHARE (5)
Loss from continuing
operations $ (0.21) $ (0.38)
Total loss $ (0.21) $ (0.24)
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(1) Domestic wireless operations were sold in April, 1998.
(2) Operating cash flow represents earnings before interest, taxes,
depreciation and amortization.
(3) Represents $347 of income attributable to USW stock for the
three months ended March 31, 1998.
(4) Actual shares outstanding as of March 31, 1999 and 1998 were
604.0 million and 608.6 million, respectively.
(5) Adjusting for one time unusual transactions (($.20) gains on
sales of investments, $.07 Primestar investment loss, and $.03
other) EPS was ($.31) for 1999. 1998 EPS was ($.37).
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