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Qwest Set to Announce Third-quarter Results

Qwest Set to Announce Third-quarter Results

Posted - Nov. 4, 2004 at 7:19 a.m.



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DENVER (AP) -- Denver-based Qwest Communications International is scheduled to release its third-quarter earnings report this morning, amid legal and financial difficulties that still plague the company.

Qwest ended the third quarter of 2003 with a one-point-eight-(b)-billion-dollar profit thanks to the sale of its QwestDex directory operations.

But revenue dropped 100 (m) million dollars as a result of competition for local voice and wireless services.

Since then, Qwest has faced continued allegations of wrongdoing by the Securities and Exchange Commission. Qwest reached a 250-(m)-million-dollar civil settlement with the S-E-C last month.

In August, Qwest offered 500 (m) million in bonds in a private sale to help refinance 17 (b) billion dollars in debt.

(Copyright 2004 by The Associated Press. All Rights Reserved.)

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