The Regents - University of California | Office of The President

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First quarter 2001 cash earnings were $1.0 billion, or 35
cents per share. Consolidated net income, after goodwill
amortization, was $729 million or 25 cents per share in
the quarter.
For management's comments, the Press Release stated:
“This quarter was an excellent start to what will be a
pivotal year for WorldCom. These results show that
WorldCom is on track to deliver strong growth and solid
performance throughout the year,” said Bernard J.
Ebbers, president and CEO of WorldCom, Inc. [] “On
the WorldCom group side we achieved our growth
targets, adding $237 million in revenues since the fourth
quarter -- the largest sequential increase we've delivered
in a year.”
70. In its April 15, 2001 filing with the SEC for the First Quarter 2001
ended March 31, 2001, WorldCom represented its operations, including revenues
and income:
WORLDCOM, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF
OPERATIONS (Unaudited. In Millions, Except Per Share Data)
For the Three Months Ended March 31,
2000 2001
Revenues
Operating expenses:
$ 9,612 $ 9,720
Line costs
SG&A
3,733
2,308
4,108
2,868
Depreciation & amort. 1,147 1,463
Total $ 7,188 $ 8,439
Operating income
Other income (expense):
2,424 1,281
Interest expense
Miscellaneous
(218)
111
(297)
4
Income before income taxes,
min. ints & cumulative effect
of accounting change 2,317 988
Provision for income taxes 947 389
Income before min. ints. & cumulative
effect of accounting change 1,370 599
Minority interests (82) 11
Income before cumulative effect
of accounting change 1,288 610
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COMPLAINT