The Regents - University of California | Office of The President
The Regents - University of California | Office of The President
The Regents - University of California | Office of The President
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B. 1997 Year End Statements<br />
50. In its March 27, 1998 filing with the SEC for the year ended<br />
December 31, 1997, WorldCom made the following representations about its<br />
operations, including revenues and income:<br />
MCI WORLDCOM. INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF<br />
OPERATIONS (In Thousands, Except Per Share Data)<br />
For the Years Ended December 31,<br />
1997 1996 1995<br />
Revenues $7,351,354 $4,485,130 $3,696,345<br />
Operating expenses:<br />
Line costs<br />
SG&A<br />
3,791,599<br />
1,540,428<br />
2,457,102<br />
828,673<br />
2,030,635<br />
677,895<br />
Deprec. & amort.<br />
Prov. to reduce carrying<br />
920,721 303,301 312,671<br />
value <strong>of</strong> certain assets<br />
Restruc. & other charges<br />
–<br />
–<br />
402,000<br />
198,148<br />
–<br />
–<br />
In-process R&D<br />
and other charges – 2,140,000 –<br />
Total 6,252,748 6,329,224 3,021,201<br />
Operating income (loss)<br />
Other income (expense):<br />
1,098,606 (1,844,094) 675,144<br />
Interest expense<br />
Miscellaneous<br />
(319,748)<br />
20,415<br />
(221,801)<br />
6,479<br />
(249,216)<br />
11,801<br />
Income (loss) before inc. taxes<br />
& ext. item 799,273 (2,059,416) 437,729<br />
Provision for inc. taxes 415,621 129,528 171,458<br />
Net income (loss) before ext. item<br />
Ext. item (net <strong>of</strong> inc. taxes <strong>of</strong><br />
383,652 (2,188,944) 266,271<br />
$15,621 in 1996) – (24,434) –<br />
Net income (loss)<br />
Preferred dividend req.<br />
383,652<br />
26,433<br />
(2,213,378)<br />
860<br />
266,271<br />
18,191<br />
Spec. dividend pay. to Series 1<br />
preferred shareholder – – 15,000<br />
Net income (loss) appl. to<br />
common shareholders $ 357,219 $(2,214,238) $ 233,080<br />
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COMPLAINT
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