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VOL. 36 | NO. 3 | Friday, January 20, 2012




Verizon posts $2B 4Q loss on pension adjustment

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NEW YORK (AP) — Verizon posted a large loss for its fourth quarter on an adjustment for the value of its pension plans, but it also saw more people signing contracts for wireless service.

Verizon Communications Inc. on Tuesday said it lost $2.02 billion, or 71 cents per share, in the last three months of 2011. That compares with net income of $2.64 billion, or 93 cents per share, a year ago.

Verizon had warned that the big pension charge was coming.

Excluding the pension effect and another one-time item, Verizon says it earned 52 cents per share. That's a penny shy of the average forecast of analysts polled by FactSet. Comparable earnings last year were 54 cents per share.

Revenue rose 7.7 percent to $28.4 billion, in line with analysts' expectations.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0