Verizon Completes Plan Related to Reporting Procedures for Domestic Telecom Companies
04 Maio 2004 - 10:59AM
PR Newswire (US)
Verizon Completes Plan Related to Reporting Procedures for Domestic
Telecom Companies NEW YORK, May 4 /PRNewswire/ -- Verizon
Communications Inc. today announced that in conclusion of a program
begun last year, it has suspended separate reporting for the five
remaining domestic operating telephone companies that were filing
financial statements with the Securities and Exchange Commission
(SEC). As a result, the following five companies will no longer
file annual audited financial information or quarterly unaudited
financial information with the SEC: Verizon Maryland Inc., Verizon
New England Inc., Verizon New Jersey Inc., Verizon New York Inc.,
and Verizon Virginia Inc. Verizon will continue to provide
quarterly and annual financial information about these companies on
Verizon's Investor Relations Web site,
http://investor.verizon.com/financial/. To permit a series of notes
previously issued primarily to retail investors by Verizon New
England to continue to trade on the New York Stock Exchange until
its redemption or maturity, Verizon has guaranteed the $480 million
aggregate principal of 7% Debentures, Series B, due 2042, also
known as 7% Quarterly Interest Bonds due 2042, currently trading
under the symbol KVZ. Specific information about Verizon New
England will also be contained in a footnote to the financial
statements of Verizon. Verizon has 16 domestic operating telephone
companies that previously filed reports with the SEC. Eleven of the
companies have previously suspended SEC reporting, as part of a
program begun in early 2003 to change funding procedures and reduce
costs. A Dow 30 company, Verizon Communications (NYSE:VZ) is one of
the world's leading providers of communications services, with
approximately $68 billion in annual revenues. Verizon companies are
the largest providers of wireline and wireless communications in
the United States. Verizon is also the largest directory publisher
in the world, as measured by directory titles and circulation.
Verizon's international presence includes wireline and wireless
communications operations and investments, primarily in the
Americas and Europe. For more information, visit
http://www.verizon.com/. VERIZON'S ONLINE NEWS CENTER: Verizon news
releases, executive speeches and biographies, media contacts and
other information are available at Verizon's News Center on the
World Wide Web at http://www.verizon.com/news. To receive news
releases by e-mail, visit the News Center and register for
customized automatic delivery of Verizon news releases. DATASOURCE:
Verizon Communications Inc. CONTACT: Bob Varettoni of Verizon,
+1-212-395-7726, or Web site: http://www.verizon.com/
http://investor.verizon.com/financial
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