Feeds

MCI ‘on track’ to exit Chapter 11

Revenues, income rising

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Embattled MCI claims it is "on track" to emerge from Chapter 11 bankruptcy protection.

Filing its monthly operating report for June with the US Bankruptcy Court for the Southern District of New York, MCI reported that revenues had increased to $2.075 billion compared with $2.034 billion in May.

Operating income in June was $146 million compared to $116 million the month before. Net income almost doubled to $84 million.

In a statement, Bob Blakely, MCI's CFO, said: "While the business environment remained highly competitive in June, we continued to make steady and solid progress executing against our plan of reorganisation.

"Our customer loyalty remains strong and we are on track to emerge from Chapter 11," he said.

It's good to be positive.

Earlier this week rival communications group SBC claimed that it is being short-changed by MCI over the routing of long-distance calls.

And the FBI called on people to come forward if they had any information concerning similar allegations that MCI improperly rerouted long-distance calls in the US and Canada in order to avoid paying hundreds of millions of dollars in access fees to other phone companies. ®

Related Stories

SBC claims MCI not paying dues
FBI snoops around MCI
Church group asks FCC to vet MCI
MCI returns fire at AT&T
US bars MCI Worldcom from new federal contracts
MCI denies national security 'compromised'
MCI faces new fraud inquiry

Secure remote control for conventional and virtual desktops

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.