Byline: Christina Torode
WorldCom this week posted a profit for the month of January vs. a significant loss for December 2002.
The carrier had net income of US$155 million in January, compared with a loss of US$580 million in December. Revenue for January was US$2.16 billion vs. revenue of US$2.20 billion in December 2002. WorldCom also ended January with US$2.8 billion in cash, US$300 million more than it had at the beginning of January.
"We still have a lot of work to do, but we're delivering on our 100-day plan," said Michael Capellas, chairman and CEO of WorldCom, in a statement. "Customer service continues at all-time highs, we're making solid progress on our cost-reduction initiatives, and we're profitable. We remain on track to emerge from Chapter 11 protection later this year."
In January, Capellas introduced an aggressive 100-day plan to submit its …