Qwest Says it Will Meet or Beat Estimates For the Quarter - TheStreet

Qwest Communications

(Q)

said Thursday that it expects earnings for its fourth quarter and full year 2000 to meet or even beat estimates.

The company did not give a specific earnings-per-share figure, but the

First Call/Thomson Financial

21-analyst consensus for the fourth quarter is 14 cents, while the full-year figure is 54 cents.

The Internet communications company cited strong product demand and revenue growth at its DSL and wireless operations.

In addition, Qwest said it is targeting revenue of $18.8 billion to $19.1 billion for 2000, and $21.3 billion to $21.7 billion for 2001. The First Call/Thomson Financial consensus is for revenues of $19 billion in 2000 and $21.567 billion in 2001.

Qwest also said earnings before revenue, interest, taxes, depreciation and amortization, or EBITDA, is forecast to be $7.4 billion in 2000 and $8.5 billion to $8.7 billion for 2001. .

Joseph Nacchio, Qwest's chairman and CEO, said in a statement, "Qwest believes it is not having the same problems announced by several competitors because Qwest has newer assets, a lower cost position and a product line targeted to capitalize on the high-growth sectors of the industry."

Nacchio said he was making the statement about the company's prospects because of "recent market turmoil and extraordinary speculation about the likely results of major companies in the sector."