MCI Reports Profitability and Positive Cash Flow for April

In a monthly operating report required by the bankruptcy court, MCI reported profitability and strong cash flow during April 2003. During that month, MCI recorded $2.05 billion in revenue versus $2.10 billion in March 2003. Operating income in April increased to $114 million from $84 million in March. The improvement in operating income is due to an $81 million reduction in operating expenses driven primarily by contract restructuring savings and declines in selling, general and administrative expenses. CAPEX was $58 million, including $41 million for PP&E and $17 million for related software. MCI ended April with $3.7 billion in cash on hand, an increase of approximately $400 million from the beginning of the month.http://global.mci.com/news/infodesk/