UNITED STATES
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
PACIFIC BELL
A California Corporation
Commission File No. 1-1414
IRS Employer No. 94-0745535
140 New Montgomery Street, San Francisco, California 94105-3705
Telephone Number (415) 542-9000
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Item 5. Other Events
On October 15, 1998, SBC Communications Inc. released the following information
regarding Pacific Bell:
<TABLE>
<CAPTION>
Pacific Bell Telephone Company (PacBell Consolidated)
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Dollars in millions Three Months Ended Nine Months Ended
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Unaudited 9/30/98 9/30/97 % Chg 9/30/98 9/30/97 % Chg
- ---------------------------------------------------------- --------------------------
<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Local service $1,184 $1,108 6.9% $3,469 $3,201 8.4%
Network access 674 650 3.7% 2,049 1,851 10.7%
Long-distance service 313 299 4.7% 925 897 3.1%
Other 238 164 45.1% 604 504 19.8%
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Total Operating Revenues 2,409 2,221 8.5% 7,047 6,453 9.2%
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Cash Operating Expenses 1,306 1,295 0.8% 3,873 4,716 -17.9%
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EBITDA 1,103 926 19.1% 3,174 1,737 -
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Depreciation and amortization 472 441 7.0% 1,386 1,477 -6.2%
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Total Operating Expenses 1,778 1,736 2.4% 5,259 6,193 -15.1%
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Operating Income 631 485 30.1% 1,788 260 -
- ---------------------------------------------------------- --------------------------
Income (Loss) Before Cumulative
Effect of Accounting Changes $ 320 $ 231 38.5% $ 893 $ (93) -
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<FN>
1997 results include charges for several items including strategic initiatives
and ongoing merger integration costs, gain on the sale of Pacific Bell's
interest in Bell Communications Research, Inc. and a first quarter settlement
gain. Excluding these additional items Pacific Bell reported an adjusted income
before cumulative effect of accounting changes of $704 for the first nine months
of 1997.
</FN>
</TABLE>
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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 thereunto duly authorized.
Pacific Bell
By: /s/ Robert B. Pickering
Robert B. Pickering
Vice President and
Chief Financial Officer
October 28, 1998
