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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: October 28, 1998
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 Events
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At a Bell Atlantic Analyst Conference on October 28, 1998, we made the following
statements:
(i) We are comfortable with current analyst estimates of $2.70 to 2.72 per share
for 1998, excluding transition and integration costs and other special items.
(ii) We are targeting consolidated revenue growth of 4% in 1998 and 5-6% in
1999.
(iii) We are targeting 1999 earnings growth from our current business operations
within the 10%-12% range, excluding transition and integration costs.
(iv) We estimate that our implementation of the American Institute of Certified
Public Accountants' Statement of Position No. 98-1, "Accounting for the Costs of
Computer Software Developed or Obtained for Internal Use," will result in a net
after-tax benefit of $200-$250 million in 1999. We intend to offset some or all
of that benefit in 1999 with incremental investments in long distance and data
market entry initiatives.
(v) We estimate that, including long distance and data market entry costs and
the effects of SOP 98-1, but excluding transition and integration costs, 1999
earnings growth will remain within the 10%-12% range.
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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/ Frederic V. Salerno
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Frederic V. Salerno
Senior Executive Vice President
and Chief Financial Officer/
Strategy and Business Development
Date: October 29, 1998
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