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: February 17, 1998
SOUTHWESTERN BELL TELEPHONE COMPANY
A Missouri Corporation
Commission File No. 1-2346
IRS Employer No. 43-0529710
175 E. Houston, San Antonio, Texas 78205-2233
Telephone Number (210) 821-4105
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Item 5. Other Events :
The following information related to Southwestern Bell Telephone Company
(SWBell) was included in a press release issued by SBC Communications Inc., a
Delaware corporation, on January 28, 1998:
<TABLE>
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Supplemental Financial Data
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Southwestern Bell Telephone Company
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<CAPTION>
Dollars in millions Three Months Ended Twelve Months Ended
--------------------------------- ---------------------------------
Unaudited 12/31/97 12/31/96 % Chg 12/31/97(1) 12/31/96 % Chg
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<S> <C> <C> <C> <C> <C> <C>
Operating Revenues
Local service $ 1,339 $ 1,223 9.5% $ 5,237 $ 4,718 11.0%
Network access - Interstate 545 544 0.2% 2,176 2,145 1.4%
Network access - Intrastate 265 272 -2.6% 1,078 1,099 -1.9%
Long-distance service 183 227 -19.4% 803 883 -9.1%
Other 276 256 7.8% 1,019 888 14.8%
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Total Operating Revenues 2,608 2,522 3.4% 10,313 9,733 6.0%
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Cash Operating Expenses 1,759 1,488 18.2% 6,194 5,448 13.7%
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EBITDA * 849 1,034 -17.9% 4,119 4,285 -3.9%
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Depreciation and amortization 487 458 6.3% 1,927 1,795 7.4%
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Total Operating Expenses 2,246 1,946 15.4% 8,121 7,243 12.1%
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Operating Income 362 576 -37.2% 2,192 2,490 -12.0%
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Net Income 190 316 -39.9% 1,187 1,369 -13.3%
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<FN>
* EBITDA = Earnings Before Interest, Taxes, Depreciation and Amortization
(1)1997 results include charges for several items including strategic
initiatives and ongoing merger integration costs and the gain on the sale of
SWBell's interest in Bell Communications Research, Inc. Excluding these
additional items, SWBell reported an adjusted net income of $1,468 for 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.
Southwestern Bell Telephone Company
/s/ Richard G.Lindner
Richard G. Lindner
Vice President and Chief Financial Officer
February 17, 1998
