GTE Corp.: The Stamford, Conn. telecommunications and...
GTE Corp.: The Stamford, Conn. telecommunications and lighting company said second-quarter net income of $403 million was unchanged from a year ago. Revenue rose fractionally to $5.4 billion. GTE said an after-tax charge of $22 million, taken as a result of the loss of an appeal in a 1989 Texas rate case, offset improved earnings by GTE’s telephone operations, which continue to benefit from cost-cutting consolidations.
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