SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report - November 17, 1995
(Date of earliest event reported)
GTE Corporation
(Exact name of registrant as specified in its charter)
NEW YORK
(State or other jurisdiction of incorporation or
organization)
1-2755 13-1678633
(Commission File Number) (IRS Employer
Identification No.)
One Stamford Forum
Stamford, Connecticut
06904
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code 203-
965-2000
GTE CORPORATION
FORM 8-K
ITEM OF INFORMATION
Item 5. Other Events
The following news release recently issued by GTE Corporation
("GTE") is filed herewith on Form 8-K and, as such, made
available to any and all interested parties:
SUMMARY: GTE management's expectation is that
company will achieve not less than 10 percent
EPS growth per year and six to eight percent
revenue growth.
NORWALK, Conn. -- "It's management's expectation
that GTE will achieve not less than 10 percent
earnings-per-share growth per year for the
foreseeable future," GTE Chairman and Chief
Executive Officer Charles R. Lee today told a
meeting of some 200 financial analysts at the
company's Management Development Center. He also
said that he "expects to see revenue growth in the
six to eight percent range."
"We've delivered seven straight quarters of 8
percent or better earnings-per-share growth, capped
by an 11 percent growth rate for the third quarter
of this year," said Lee. "Our financial performance
reflects GTE's clear direction and momentum.
"The reality is, we have to move forward, and
fast, in order to stay ahead of two important trends
-- the bundling of services domestically and the
increasing demand for telecommunications services
internationally," Lee noted. "That's where we think
the industry is going, and that's where we're taking
GTE."
Lee Reports on Progress in Achieving Strategic
Thrusts
Strategically, the company has been preparing for
this competitive era for a number of years. It has
focused its businesses solely on telecommunications
and it has set a vision of market leadership in the
industry, aggressively pursuing five strategic
thrusts: preserve and enhance wireline voice,
accelerate wireless, expand data, enter video and
pursue international.
Lee told the analysts that the company has clearly
demonstrated strong growth in its core businesses.
GTE's access line growth is the highest in the
industry and, to date, the number of cellular
subscribers has grown at an explosive 45 percent a
year. "Right now, our combined wireline and
wireless services reach more than 35 percent of the
U.S. population, or about 90 million people," Lee
noted.
GTE's data business is growing so fast that the
company expects its network will carry more data
traffic than voice traffic by the end of the decade,
Lee said. The company's video network will pass
more than 100,000 homes by the end of the year, with
video service up and running by the first quarter of
1996, he added.
Lee said GTE's international activities will play
an important part in the company's future success by
leveraging existing assets and continuing to explore
regional expansion opportunities. GTE expects to
double net income from existing international
operations over the next five years, he said.
About GTE
One of the largest publicly held
telecommunications companies in the world, GTE is
also the largest U.S.-based local telephone company
and a leading cellular-service provider -- with
wireline and wireless operations that form a market
area covering more than one third of the U.S.
population. With net income of $2.5 billion and
revenues of $20 billion in 1994, GTE also is a
leader in government and defense communications
systems and equipment, aircraft-passenger
telecommunications, directories and
telecommunications-based information services and
systems.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
GTE
CORPORATION
(Registrant)
By Marianne
Drost
Marianne
Drost
Secretary
Date: November 17, 1995
