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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: December 12, 1997
Exact name of registrant
as specified in its charter: BELL ATLANTIC CORPORATION
Commission File Number: 1-8606
State of Incorporation: Delaware
I.R.S. Employer Identification No.: 23-2259884
Address of principal
executive offices: 1095 Avenue of the Americas
New York, New York
Zip Code 10036
Registrant's telephone number,
including area code: (212) 395-2121
Former name or former address,
if changed since last report: Not applicable
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Item 5. Other Information
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At a Bell Atlantic Global Wireless Analyst Conference on December 12, 1997, we
made the following statements:
(a) Our estimates of selected 1997 proportionate operating and financial results
for our Global Wireless Sector ("Sector") are as follows:
year-end subscribers 6.3 million
operating revenue $3.4 - $3.7 billion
operating income growth $75 - $100 million
operating cash flow $0.9 - $1.2 billion
(b) Our estimates of selected fourth quarter and full year operating and
financial results for Bell Atlantic Mobile, our wholly-owned domestic wireless
unit, are as follows:
Targets: 4Q97 Full year 1997
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subscriber growth (%) 20 - 22 20 - 22
year-end subscribers (millions) 5.3 - 5.4 5.3 - 5.4
net additions (thousands) 250 - 300 900 - 950
churn (%) 1.65 - 1.75 1.65 - 1.75
total revenue per subscriber $53 - $55 $53 - $55
service revenue per subscriber $46 - $48 $46 - $48
cash expense per subscriber $24 - $26 $26 - $28
acquisition cost per gross add $210 - $220 $215 - $225
total revenue (millions) $820 - $860 $3,100 - $3,140
EBITDA (millions) $320 - $350 $1,165 - $1,195
EBITDA Margin (%) 45 - 47 42 - 44
(c) Our 1998 annual targets for Bell Atlantic Mobile are:
(i) over six million subscribers at year-end
(ii) maintain churn levels
(iii) $3.4 - $3.5 billion total revenues
(iv) $1.3 - $1.4 billion in operating cash flow (EBITDA)
(v) EBITDA Margin mid-40% range
(vi) positive free cash flow
(d) Our selected 1998 financial and operational targets for the Sector are:
(i) wireless earnings double those in 1997
(ii) 7.5 million proportionate subscribers at year-end
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The foregoing information is forward-looking, based on our estimates and
assumptions and subject to risks and uncertainties. For those statements, we
claim the protection of the safe harbor for forward-looking statements contained
in the Private Securities Litigation Reform Act of 1995. The following important
factors could affect the future results of the Sector and could cause those
results to differ materially from those expressed in the forward-looking
statements: (i) materially adverse changes in economic or political conditions
in the markets we serve; (ii) the cost of competitive response to increased
market pressures from new, as well as established, competitors; and (iii)
customer growth pressures on costs and service.
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SIGNATURE
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.
BELL ATLANTIC CORPORATION
By: /s/ Mel Meskin
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Mel Meskin
Vice President - Comptroller
Date: December 22, 1997
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