BusinessBusiness RecoveryRe-named WorldCom posts profit

Re-named WorldCom posts profit

Troubled telecoms company MCI, formerly known as WorldCom, has posted a $43m profit in March, against a net loss of $332m in February.

Link: WorldCom to rise from ashes

The figures come from MCI’s February and March 2003 monthly operating reports, filed with the US Bankruptcy Court for the Southern District of New York.

During the month of February, MCI – formerly known as WorldCom – recorded $2.03bn in revenue, a fall on January which it attributed to “fewer business days than the previous month”. In March, MCI recorded $2.1bn in revenue.

‘We are continuing to make steady and measured progress against our businessplan,’ said Michael Capellas, MCI chairman and chief executive, in a statement.

‘While we are on a fast track to emerge from Chapter 11 later this fall, we know there is still much more work to do and there will be ups and downs along the way,’ he said.

MCI’s capital expenditures for February were $36m, while March capital expenditures were $51m.

‘After spending $38bn on our network over the past six years, we arevery comfortable with our projected capital spending levels on our core IPbackbone,’ said Capellas.

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