13th Jan 2010 07:00
Verizon Communications Inc.
Notice of filing with U.S. Securities and Exchange Commission
On January 6, 2010, at the Citi Entertainment, Media and Telecommunications Conference, Ivan Seidenberg, Chairman and Chief Executive Officer of Verizon Communications Inc. (Verizon), provided an update of Verizon's financial performance. Verizon estimates that 2009 adjusted earning per share (EPS) will be approximately 13 to 15 cents lower than 2008 adjusted EPS of $2.54 and that revenues in 2009 will be higher than those in 2008. Verizon expects that adjusted EPS for fourth quarter 2009 will be approximately $0.53 to $0.55. Verizon expects that strong wireless subscriber growth and device upgrades that were higher as a percentage of the retail postpaid customer base than in prior periods will cause wireless operating income margins to be lower in the fourth quarter 2009 than in the third quarter 2009. Verizon expects that the Wireline segment's EBITDA margin will not improve in the fourth quarter 2009 as compared to the third quarter 2009 as a result of access line losses and economic conditions which continue to affect Verizon's business markets.
On January 8, 2010 Verizon filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (SEC) disclosing these updates. This report may be viewed in more detail on the SEC website at www.sec.gov and on the Verizon website at www.verizon.com.
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