Verizon Caps Successful Year With Strong 4Q Results

NEW YORK - Verizon Communications Inc. (NYSE:VZ) today reported continued strong quarterly financial and operational results, as the company again produced significant gains in strategic growth areas such as wireless, broadband, data, video and global IP.

Verizon reported fourth-quarter 2007 earnings of 37 cents in fully diluted earnings per share (EPS).  This compares with fourth-quarter 2006 earnings of 48 cents per share before income from discontinued operations that have since been divested.

On an adjusted basis (non-GAAP), fourth-quarter 2007 earnings were 62 cents per share from continuing operations.  This is a 19.2 percent increase, compared with 52 cents per share from continuing operations in the fourth quarter 2006.

On an annual basis, Verizon reported 2007 EPS of $1.90, compared with $1.88 per share from continuing operations.  On an adjusted annual basis, 2007 EPS was $2.36, a 14.6 percent increase, compared with 2006 EPS of $2.06 from continuing operations.

Source:Verizon Caps Successful Year With Strong 4Q Results - VErizon Press Release