Monday, August 8, 2005

MCI Returns to Profitability in Q2

MCI returned to profitability in Q2 2005, generating net income of $64 million or $0.20 and $0.19 per basic and diluted share, respectively, compared to a net loss of $2 million or $.01 per basic and diluted share in the first quarter. Q2 revenues were $4.7 billion, down 2% sequentially and 10% year-over-year.

"In the second quarter, we continued to launch next generation products and services, improve customer service and realize results from our cost reduction initiatives," said Michael D. Capellas, MCI president and chief executive officer. "In the second half of the year, we will remain focused on executing in the marketplace and moving toward a timely completion of our merger with Verizon."

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