Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
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.)