" writeme += "

" writeme += "" writeme += "" writeme += "" writeme += "

" playme.document.write(writeme); playme.document.close(); if((navigator.appName == "Netscape") && (navigator.appVersion.substring(0,1) >= "3")) {playme.focus();} if((navigator.appName == "Microsoft Internet Explorer") && (navigator.appVersion.substring(0,1) >= "4")) {playme.focus();} if (playme.opener == null) { playme.opener = self; } } function play(vid,neth,netl,realh,reall) { var cm=GetCookie("playbar"); if (cm != null) { //if (cm=="nh" && neth=="t") { cm="hi.asx"; //if(aol||nstr||iebug) { //} else { // showvid('asf',vid+cm); //} } else { if (cm=="nh" && neth!="t") { this.sec=1; pbw(vid,neth,netl,realh,reall); } } if (cm=="nl" && netl=="t") { cm="lo.asx"; //if(aol||nstr||iebug) { //} else { // showvid('asf',vid+cm); //} } else { if (cm=="nl" && netl!="t") { this.sec=1; pbw(vid,neth,netl,realh,reall); } } if (cm=="rh" && realh=="t") { cm="hi.rmm"; if(aol||iebug) { } else { showvid('rm',vid+cm); } } else { if (cm=="rh" && realh!="t") { this.sec=2; pbw(vid,neth,netl,realh,reall); } } if (cm=="rl" && reall=="t") { cm="lo.rmm"; if(aol||iebug) { } else { showvid('rm',vid+cm); } } else { if (cm=="rl" && reall!="t") { this.sec=2; pbw(vid,neth,netl,realh,reall); } } } window.onerror = MSIE; // -->

logo
Thu, May 25, 2000
fundsnav.gif (2552 bytes)

Registration
Account Management
Site Help
Market Wire Home
Fox News Online Home
Live Ticker
Indices Chart
Click on index
for more information

Sprint to Proceed With $500m PCS Stock Offering
Reuters
KANSAS CITY — Sprint Corp., the nation's third largest long distance carrier, said Thursday it will proceed with a $500 million public offering of Sprint PCS common stock with proceeds from the sale used by the Sprint PCS Group to continue to expand its wireless phone network.

In October, Sprint delayed the offering, citing market conditions, but later went ahead with the recapitalization which created two classes of common stock for its core operations and it wireless phone venture.

The company also released preliminary fiscal fourth quarter results for its PCS Group and said revenues are expected to range between $430 million and $450 million.

PCS earnings before interest, taxes, depreciation and amortization are expected to be a loss ranging between $590 million to $610 million, which compares with a loss of about $350 million in the third quarter 1998. The company said the EBITDA loss is within its expectations.

Also, PCS added about 830,000 customers in the fourth quarter, which is more than double the number of sales in the third quarter 1998, Sprint said.

Strong holiday sales and the opening of 48 new markets contributed to the strong fourth quarter customer growth, the company said.

More Marketwire More MarketWire News Top of Page


© 2000, News Digital Media, Inc. d/b/a Fox News Online
All rights reserved. Fox News is a registered trademark of 20th Century Fox Film Corp.
Data from Thomson Financial Interactive is subject to the following Privacy Statement
© 2000 Reuters Ltd. All rights reserved