Feeds

MCI ‘on track’ to exit Chapter 11

Revenues, income rising

  • alert
  • submit to reddit

Internet Security Threat Report 2014

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

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine 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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.