KANSAS CITY, Mo.-Sprint Corp. reported a first-quarter net income of $212.1 million, or 49 cents per share, which reflects a 27-percent drop from its net income for the comparable period last year, listed as $290 million, or 67 cents per share.
Much of the loss was attributed to its Global One and Sprint PCS personal communications services buildout, which resulted in after-tax losses of 41 cents per share, compared with a loss of 17 cents per share a year ago.
Net operating revenues for the quarter were $3.91 billion, up 9.3 percent from 1997’s first-quarter total of $3.58 billion.
In a recorded conference call detailing the earnings report aired April 16, Ronald LeMay, Sprint’s president and chief operating officer, mentioned in passing that the Sprint PCS joint venture between itself, Tele-Communications Inc., Cox Communications Inc. and Comcast Corp. may be altered.
“Partners of the Sprint PCS joint venture are continuing to hold talks on a possible restructuring of ownership interests,” he said.
