494 lines
26 KiB
Plaintext
494 lines
26 KiB
Plaintext
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Phrack Seventeen
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07 April 1988
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File 3 of 12 : Dun & Bradstreet Report on Pacific Telesis
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Pacific Telesis Credit File, taken from Dun & Bradstreet by Elric of Imrryr
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Name & Address:
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PACIFIC TELESIS GROUP (INC)
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140 New Montgomery St
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SAN FRANCISCO, CA 94105
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Telephone: 415-882-8000
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DUNS Number: 10-346-0846
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Line of Business: TELECOMMUNICATION SERVICES
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Primary SIC Code: 4811
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Secondary SIC Codes: 2741 5063 5732 6159
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Year Started: 1906 (12/31/86) COMBINATION FISCAL
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Employees Total: 74,937 Sales: 8,977,300,000
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Employees Here: 2,000 Net Worth: 7,753,300,000
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This is a PUBLIC company
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12/31/86 COMBINATION FISCAL
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(Figures are in THOUSANDS)
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FINANCIALS % COMPANY INDST
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COMPANY CHANGE % NORM %
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Cash. . . . . . . . . . . . . 200,600 671.5 1.0 9.0
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Accounts Receivable . . . . . 1,390,700 (3.8) 6.8 5.7
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Notes Receivable. . . . . . . ---- ---- ---- 0.2
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Inventory . . . . . . . . . . 116,300 (4.4) 0.6 1.3
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Other Current Assets. . . . . 448,700 18.6 2.2 5.8
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Total Current Assets. . . . . 2,156,300 9.3 10.6 22.0
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Fixed Assets. . . . . . . . . 17,244,900 1.6 84.9 35.6
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Other Non-current Assets. . . 919,300 53.8 4.5 42.4
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Total Assets. . . . . . . . . 20,320,500 4.0 100.0 100.0
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Accounts Payable. . . . . . . 1,760,300 74.1 8.7 4.2
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Bank Loans. . . . . . . . . . 21,800 847.8 0.1 0.2
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Notes Payable . . . . . . . . ---- ---- ---- 1.0
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Other Current Liabilities . . 623,000 (35.8) 3.1 6.2
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Total Current Liabilities . . 2,405,100 21.3 11.8 11.6
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Other Long Term Liab. . . . . 5,564,600 (7.6) 27.4 46.8
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Deferred Credits. . . . . . . 4,597,500 9.0 22.6 6.4
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Net Worth . . . . . . . . . . 7,753,300 6.0 38.2 35.2
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Total Liabilities & Worth. . 20,320,500 4.0 100.0 100.0
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Net Sales . . . . . . . . . . 8,977,300 5.6 100.0 100.0
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Gross Profit. . . . . . . . . ---- ---- ---- 40.1
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Net Profit After Tax. . . . . 1,079,400 16.2 12.0 15.3
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Dividends/Withdrawals . . . . 654,100 10.0 7.3 7.7
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Working Capital . . . . . . . 248,800 (999.9) ---- ----
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RATIOS % ---INDUSTRY QUARTILES---
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COMPANY CHANGE UPPER MEDIAN LOWER
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(SOLVENCY)
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Quick Ratio . . . . . . . . . 0.7 ---- 2.9 1.2 0.6
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Current Ratio . . . . . . . . 0.9 (10.0) 4.9 2.2 1.0
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Curr Liab to Net Worth (%). . 31.0 14.4 13.2 26.4 38.1
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Curr Liab to Inventory (%). . 999.9 26.9 244.8 475.8 675.0
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Total Liab to Net Worth (%) . 162.1 (2.9) 127.4 180.2 297.2
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Fix Assets to Net Worth (%) . 222.4 (4.1) 144.9 215.0 263.0
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(EFFICIENCY)
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Coll Period (days). . . . . . 56.5 (9.0) 31.9 46.7 61.6
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Sales to Inventory. . . . . . 77.2 10.6 56.2 33.8 20.0
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Assets to Sales (%) . . . . . 226.4 (1.5) 210.5 266.1 373.4
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Sales to Net Working Cap. . . ---- ---- 6.3 2.3 1.1
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Acct Pay to Sales (%) . . . . 19.6 64.7 4.9 8.7 13.8
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(PROFITABILITY)
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Return on Sales (%) . . . . . 12.0 10.1 20.1 14.6 11.3
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Return on Assets (%). . . . . 5.3 10.4 7.2 5.7 3.7
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Return on Net Worth (%) . . . 13.9 9.4 19.0 15.9 12.8
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Industry norms based on 469 firms,
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with assets over $5 million.
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12/31/85 COMBINATION FISCAL
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(Figures are in THOUSANDS)
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FINANCIALS % COMPANY INDST
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COMPANY CHANGE % NORM %
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Cash. . . . . . . . . . . . . 26,000 550.0 0.1 7.5
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Accounts Receivable . . . . . 1,446,200 20.6 7.4 5.6
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Notes Receivable. . . . . . . ---- ---- ---- 0.4
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Inventory . . . . . . . . . . 121,700 ---- 0.6 1.2
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Other Current Assets. . . . . 378,300 (8.3) 1.9 5.1
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Total Current Assets. . . . . 1,972,200 22.1 10.1 19.8
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Fixed Assets. . . . . . . . . 16,968,400 6.1 86.8 39.2
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Other Non-current Assets. . . 597,700 29.4 3.1 41.0
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Total Assets. . . . . . . . . 19,538,300 8.1 100.0 100.0
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Accounts Payable. . . . . . . 1,011,100 14.6 5.2 4.9
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Bank Loans. . . . . . . . . . 2,300 ---- ---- 0.3
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Notes Payable . . . . . . . . ---- ---- ---- 0.8
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Other Current Liabilities . . 969,900 18.6 5.0 5.9
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Total Current Liabilities . . 1,983,300 (1.0) 10.2 11.9
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Other Long Term Liab. . . . . 6,021,700 0.8 30.8 46.8
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Deferred Credits. . . . . . . 4,216,300 16.6 21.6 6.8
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Net Worth . . . . . . . . . . 7,317,000 12.9 37.4 34.5
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Total Liabilities & Worth. . 19,538,300 8.1 100.0 100.0
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Net Sales . . . . . . . . . . 8,498,600 8.6 100.0 100.0
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Gross Profit. . . . . . . . . ---- ---- ---- 33.7
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Net Profit After Tax. . . . . 929,100 12.1 10.9 14.0
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Dividends/Withdrawals . . . . 594,400 11.9 7.0 13.0
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Working Capital . . . . . . . 11,100 ---- ---- ----
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RATIOS % ---INDUSTRY QUARTILES---
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COMPANY CHANGE UPPER MEDIAN LOWER
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(SOLVENCY)
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Quick Ratio . . . . . . . . . 0.7 16.7 2.5 1.1 0.6
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Current Ratio . . . . . . . . 1.0 25.0 3.8 1.9 0.9
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Curr Liab to Net Worth (%). . 27.1 (12.3) 15.8 29.4 43.9
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Curr Liab to Inventory (%). . 999.9 ---- 285.7 485.5 790.6
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Total Liab to Net Worth (%) . 167.0 (6.7) 134.4 190.1 320.9
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Fix Assets to Net Worth (%) . 231.9 (6.0) 148.4 219.0 289.5
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(EFFICIENCY)
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Coll Period (days). . . . . . 62.1 11.1 31.5 47.2 63.8
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Sales to Inventory. . . . . . 69.8 ---- 52.3 31.4 18.0
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Assets to Sales (%) . . . . . 229.9 (0.5) 217.1 277.8 356.8
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Sales to Net Working Cap. . . ---- ---- 6.0 2.7 1.6
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Acct Pay to Sales (%) . . . . 11.9 5.3 6.1 10.4 15.7
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(PROFITABILITY)
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Return on Sales (%) . . . . . 10.9 2.8 19.0 13.6 9.5
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Return on Assets (%). . . . . 4.8 4.3 6.9 5.3 3.4
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Return on Net Worth (%) . . . 12.7 (0.8) 19.7 15.8 12.7
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Industry norms based on 605 firms,
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with assets over $5 million.
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12/31/84 COMBINATION FISCAL
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(Figures are in THOUSANDS)
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FINANCIALS COMPANY INDST
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COMPANY % NORM %
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Cash. . . . . . . . . . . . . 4,000 ---- 6.6
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Accounts Receivable . . . . . 1,198,800 6.6 6.3
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Notes Receivable. . . . . . . ---- ---- 0.4
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Inventory . . . . . . . . . . ---- ---- 1.2
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Other Current Assets. . . . . 412,400 2.3 4.1
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Total Current Assets. . . . . 1,615,200 8.9 18.6
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Fixed Assets. . . . . . . . . 15,999,500 88.5 45.0
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Other Non-current Assets. . . 461,800 2.6 36.4
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Total Assets. . . . . . . . . 18,076,500 100.0 100.0
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Accounts Payable. . . . . . . 882,100 4.9 5.2
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Bank Loans. . . . . . . . . . ---- ---- 0.2
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Notes Payable . . . . . . . . 304,000 1.7 1.0
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Other Current Liabilities . . 817,600 4.5 5.5
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Total Current Liabilities . . 2,003,700 11.1 11.9
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Other Long Term Liab. . . . . 5,973,500 33.0 47.8
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Deferred Credits. . . . . . . 3,617,000 20.0 6.5
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Net Worth . . . . . . . . . . 6,482,300 35.9 33.8
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Total Liabilities & Worth. . 18,076,500 100.0 100.0
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Net Sales . . . . . . . . . . 7,824,300 100.0 100.0
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Gross Profit. . . . . . . . . ---- ---- 28.1
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Net Profit After Tax. . . . . 828,500 10.6 14.1
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Dividends/Withdrawals . . . . 531,200 6.8 7.3
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Working Capital . . . . . . . 388,500 ---- ----
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RATIOS ---INDUSTRY QUARTILES---
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COMPANY UPPER MEDIAN LOWER
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(SOLVENCY)
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Quick Ratio . . . . . . . . . 0.6 2.3 1.0 0.6
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Current Ratio . . . . . . . . 0.8 3.4 1.6 0.9
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Curr Liab to Net Worth (%). . 30.9 17.7 30.6 43.5
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Curr Liab to Inventory (%). . ---- 312.5 491.6 754.3
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Total Liab to Net Worth (%) . 178.9 139.2 193.7 314.9
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Fix Assets to Net Worth (%) . 246.8 161.5 228.9 295.3
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(EFFICIENCY)
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Coll Period (days). . . . . . 55.9 34.3 51.6 67.8
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Sales to Inventory. . . . . . ---- 52.1 32.6 20.1
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Assets to Sales (%) . . . . . 231.0 216.7 268.2 353.0
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Sales to Net Working Cap. . . ---- 7.2 3.1 1.7
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Acct Pay to Sales (%) . . . . 11.3 6.2 10.9 15.4
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(PROFITABILITY)
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Return on Sales (%) . . . . . 10.6 18.5 13.1 9.8
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Return on Assets (%). . . . . 4.6 7.0 5.3 3.3
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Return on Net Worth (%) . . . 12.8 19.7 15.7 12.6
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Industry norms based on 504 firms,
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with assets over $5 million.
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END OF DOCUMENT
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Name & Address:
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PACIFIC TELESIS GROUP (INC)
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140 New Montgomery St
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SAN FRANCISCO, CA 94105
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Telephone: 415-882-8000
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DUNS Number: 10-346-0846
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Line of Business: TELECOMMUNICATION SERVICES
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Primary SIC Code: 4811
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Secondary SIC Codes: 2741 5063 5732 6159
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Year Started: 1906 (12/31/86) COMBINATION FISCAL
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Employees Total: 74,937 Sales: 8,977,300,000
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Employees Here: 2,000 Net Worth: 7,753,300,000
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This is a PUBLIC company
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HISTORY
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09/01/87
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DONALD E GUINN, CHB PRES+ THEODORE J SAENGER, V CHB GROUP
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PRES+
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SAM L GINN, V CHB+ JOHN E HULSE, V CHB CFO+
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ROBERT V R DALENBERG, EX V PRES BENTON W DIAL, EX V PRES-HUM
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GEN COUNSEL SEC RESOURCES
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ARTHUR C LATNO JR, EX V PRES THOMAS G CROSS, V PRES TREAS
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FRANK V SPILLER, V PRES
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COMPTROLLER
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DIRECTOR(S): The officers identified by (+) and Norman Barker Jr,
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William P Clark, Willaim K Coblentz, Myron Du Bain, Herman E Gallegos
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James R Harvey, Ivan J Houston, Leslie L Luttgens, E L Mc Neely, S
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Donley Ritchey, Willaim French Smith & Mary S Metz.
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Incorporated Nevada Oct 26 1983. Authorized capital consists of
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505,000,000 shares common stock, $.10 par value.
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OUTSTANDING CAPITAL STOCK: Consists of following at Dec 31 1986:
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215,274,878 common shares at a stated value of $21.5 million plus
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additional paid in capital of $5,068.5 million.
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The stock is publicly traded on the New York, Pacific and Midwest
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Stock Exchanges. There were 1,170,161 common shareholders at Feb 1 1987.
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Officers and directors as a group hold less than 1% of stock. No other
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entity owned more than 5% of the common stock outstanding.
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The authorized capital stock was increased to $1,100,000,000
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shares in 1987 by Charter Amendment. In addition, the company declared a
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two-for-one stock split in the form of a 100% stock dividend effective
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Mar 25 1987.
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BACKGROUND: This business was founded in 1906 as a California
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Corporation. The Pacific Telephone & Telegraph Company formed Dec 31
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1906. Majority of the stock was held by American Telephone & Telegraph
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Co (A T & T), New York, NY, prior to divestiture.
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DIVESTITURE: Pursuant to a court oder of the U S District Court for
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the Distirict of Columbia, A T & T divested itself of the exchange,
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telecommunications, exchange access and printing directory advertising
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portions of its 22 wholly-owned subsidiary operating telephone
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companies, including the Pacific Telephone & Telegraph Company. A T & T
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retains ownership of the former A T & T long lines interstate
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organization, as well as those portions of the subsidiaries that provide
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interchange services and customer premises equipment. To accomplish the
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divestiture, this regional holding company was formed, which took over
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the applicable operations and assets of the Pacific Telephone &
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Telegraph Company and its subsidiary, Bell Telephone Company of Nevada.
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Stock in the subject was distributed to the shareholders of A T & T, who
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also retained their existing A T & T Stock. The divestiture was
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accomplished on Jan 1 1984.
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RECENT EVENTS:During Jun 1986, the company completed the
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acquisition of Communications Industries Inc, Dallas, TX.
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In Dec 1986, the company's wholly-owned subsidiary Pac Tel Cellular
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Inc of Michigan signed an agreement to purhcase five cellular telephone
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properties for $316 million plus certain contingent payments. These five
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systems operate under the name of Cellular One. This acquaition is
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subject to regulatory and court approval and final legal review.
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------------------------OFFICERS------------------------.
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GUINN born 1932 married. 1954 received BSCE from Oregon State
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University. 1954-60 with The Pacific Telephone & Telegraph Company, San
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Francisco, CA. 1960-64 with Pacific Northwest Bell Telephone Co,
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Seattle, WA, as vice president. 1964-70 with A T & T. 1970-76 with
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Pacific Northwest Bell. 1976-80 with A T & T as vice president-network
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service. 1980 chairman and chief executive officer of The Pacific
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Telephone & Telegraph Company. 1984 with Pacific Telesis Group as
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chairman, president and chief executive officer.
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SAENGER born 1928 married. 1951 received BS from the University of
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California. 1946-47 in the U S Army. 1951-52 secretary and manager for
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the Oakland Junior Chamber of Commerce. 1950-70 held various positions
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with The Pacific Telephone & Telegraph Company. 1970-71 traffic
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operations director for Network Administration in New York, A T & T.
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1971 with The Pacific Telephone & Telegraph Company. 1974 vice
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president. 1977 president. 1984 with Pacific Telesis Group as vice
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chairman and president, Pacific Bell.
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GINN born 1937 married. 1959 graduated from Auburn University. 1969
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received MS from Stanford University. 1959-60 in the U S Army Signal
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Corps as captain. 1960 joined A T & T Long Lines. 1977 vice
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president-staff for A T & T Long Lines. 1978 joined The Pacific
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Telephone & Telegraph Company as executive vice president-network. 1983
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vice chairman. 1984 with Pacific Telesis Group as vice chairman and
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group president, PacTel Companies.
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HULSE born 1933 married. 1955 received BS from the University of
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South Dakota. 1956-58 in the U S Army. 1958 joined Northwestern Bell
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Telephone Co. 1980 joined The Pacific Telephone & Telegraph Company as
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executive vice president and chief financial officer. 1983 vice
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chairman. 1984 with Pacific Telesis Group as vice chairman and chief
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financial officer.
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LATNO born 1929 married. Received BS degree from the University of
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Santa Clara. 1952 with Pacific Telephone & Telegraph Co. 1972 vice
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president-regulatory. 1975 executive vice president-external affairs.
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1984 with Pacific Telesis Group as executive vice president-external
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affairs.
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DALENBERG born 1930 married. Graduated from the University of
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Chicago Law School and Graduate School of Business. 1956 admitted to
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practice at the Illinois Bar and in 1973 the California Bar. 1957-67
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private law practice in Chicago, IL. 1967-72 general attorney for
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Illinois Bell. 1972-75 general attorney for The Pacific Telephone &
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Telegraph Company. 1975 associate general counsel. 1976 vice president
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and secretary-general counsel. 1984 with Pacific Telesis Group as
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executive vice president and general counsel-secretary.
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CROSS. Vice President and Treasurer and also Vice President of
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Pacific Bell.
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DIAL born 1929 married. 1951 received BA from Whittier College.
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1961 received MS from California State University. 1951-53 in the U S
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Army. 1954 with The Pacific Telephone & Telegraph Company. 1973 vice
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president-regional staff and operations service for Southern California.
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1976 vice president-customer operations in Los Angeles, CA. 1977 vice
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president-corporate planning. 1980 vice president-human resources. 1984
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with Pacific Telesis Group as executive vice president-human resources.
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SPILLER born 1931 married. 1953 received BS from the University of
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California, San Francisco. 1954-56 in the U S Army as a second
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lieutenant. 1953 with The Pacific Telephone & Telegraph Company. 1977
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assistant comptroller. 1981 assistant vice president-finance management.
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1981 vice president and comptroller. 1984 with Pacific Telesis Group as
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vice president and comptroller.
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---------------------OTHER DIRECTORS---------------------.
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BARKER. Retired chairman of First Interstate Bank Ltd.
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CLARK. Of counsel to the law firm of Rogers & Wells.
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COBLENTZ. Senior Partner in Coblentz, Cahen, Mc Cabe & Breyer,
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Attorneys, San Francisco, CA.
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DU BAIN. Chairman of SRI International.
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GALLEGOS. Management consultant.
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HARVEY. Chairman, and chief executive officer of Transamerica
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Corporation, San Francisco, CA.
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HOUSTON. Chairman and chief executive officer of Golden State
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Mutual Life Insurance Co.
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LUTTGENS. Is a community leader.
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MC NEELY. Chairman and chief executive officer of Oak Industries,
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Inc, San Diego, CA.
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RITCHEY. Retired Chairman of Lucky Stores Inc.
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SMITH. Partner in Gibson, Dunn & Crutcher, Attorneys.
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METZ. President of Mills College.
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OPERATION
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09/01/87
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Pacific Telesis Group is a regional holding company whose
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operations are conducted by subsidiaries.
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The company's two major subsidiaries, Pacific Bell and Nevada Bell,
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provide a wide variety of communications services in California and
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Nevada, including local exchange and toll service, network access and
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directory advertising, and provided over 90% of total 1986 revenues.
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Other subsidiaries, as noted below, are engaged in directory
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publishing, cellular mobile communications and services, wholesaling of
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telecommunications products, integrated systems and other services,
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retails communications equipment and supplies, financing services for
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products of affiliated customers, real estate development, and
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consulting. Specific percentages of these operations are not available
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but in the aggregate represent approximately 10%.
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Terms are net 30 days. Has over 11,000,000 accounts. Sells to the
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general public and commercial concerns. Territory :Worldwide.
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EMPLOYEES: 74,937 including officers. 2,000 employed here.
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Employees are on a consolidated basis as of Dec 31 1986.
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FACILITIES: Owns over 500,000 sq. ft. in 20 story concrete and
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steel building in good condition. Premises neat.
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LOCATION: Central business section on side street.
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BRANCHES: The subject maintains minor additional administrative
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offices in San Francisco, CA, but most operating branches are conducted
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by the operating subsidiaries, primarily Pacific Bell and Nevada Bell in
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their respective states.
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SUBSIDIARIES: Subsidiaries: The Company has the following principal
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operating subsidiaries, all wholly-owned either directly or indirectly.
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The telephone subsidiaries account for over 90% of the operating
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results.
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(1) Pacific Bell (Inc) San Francisco CA. Formed 1906 as a
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California corporation. Acquired in 1984 as part of the divestiture of
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AT&T. It is the company's largest subsidiary . It provides
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telecommunicaton services within its service area in California.
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(2) Nevada Bell (Inc) Reno NV. Incorporated in 1913. acquired from
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Pacific Bell in 1984 by the divestiture of its stock. Provides
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telecommunications, services in Nevada.
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(3) Pac Tel Cellular Inc, TX. Renamed subsidiary formerly known
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as Comminications Industries Inc. Acquired in 1986. Operates as a
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marketer of cellular and paging services. This subsidiary, in turn, has
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several primary subsidiaries as follows:.
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(a) Gen Com Incorporated. Provides personal paging services.
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(b) Multicom Incorporated. Markets paging services.
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(4) Pac Tel Personal Communications. Formed to eventually hold all
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of the company's cellular and paging operations. It is the parent of the
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following:.
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(c) Pac Tel Cellular supports the company's cellular activities.
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(d) Pac Tel Mobile Services-formed to rent and sell cellular CPE
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and paging equipment and resell cellular services, is now largely
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inactive.
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(5) Pac Tel Corporation, San Francisco CA began operations in Jan
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1986 as a direct holding company subsidiary. It owns the stock of the
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following companies:.
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(e) Pac Tel Communications Companies-operates two primary
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divisions, Pac Tel Info Systems and Pac Tel Spectrum Services.
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(f) Pac Tel Finance-provides lease financing services.
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(g) Pac Tel Properties-engages in real estate transactions holding
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real estate valued at approximately $140 million at Dec 31 1986.
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(h) Pac Tel Publishing -inactive at present.
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(i) Pacific Telesis International-manages and operates
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telecommunicatin businesses in Great Britain, Japan, South Korea, Spain
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|
and Thailand.
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(6) Pac Tel Capital Resources, San Francisco, CA -provides funding
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|
through the sale of debt securities.
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INTERCOMPANY RELATIONS: Includes common management, intercompany
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services, inventory and equipment transactions, loans and advances. In
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addition, the debt of Pac Tel Capital Resources is backed by a support
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agreement from the parent with the debt unconditionally guaranteed for
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repayment without recourse to the stock or assets of the telephone
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subsidiaries or any interest therein.
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08-27(1Z2 /27) 29709 052678678 H
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ANALYST: Dan Quinn
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12/31/86 COMBINATION FISCAL
|
|
(Figures are in THOUSANDS)
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|
|
FINANCIALS % COMPANY INDST
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|
COMPANY CHANGE % NORM %
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|
Total Current Assets. . . . . 2,156,300 9.3 10.6 22.0
|
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Fixed Assets. . . . . . . . . 17,244,900 1.6 84.9 35.6
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Other Non-current Assets. . . 919,300 53.8 4.5 42.4
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Total Assets. . . . . . . . . 20,320,500 4.0 100.0 100.0
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Total Current Liabilities . . 2,405,100 21.3 11.8 11.6
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Other Long Term Liab. . . . . 5,564,600 (7.6) 27.4 46.8
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Net Worth . . . . . . . . . . 7,753,300 6.0 38.2 35.2
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|
Total Liabilities & Worth. . 20,320,500 4.0 100.0 100.0
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Net Sales . . . . . . . . . . 8,977,300 5.6 100.0 100.0
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Gross Profit. . . . . . . . . ---- ---- ---- 40.1
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RATIOS % ---INDUSTRY QUARTILES---
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COMPANY CHANGE UPPER MEDIAN LOWER
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Quick Ratio . . . . . . . . . 0.7 ---- 2.9 1.2 0.6
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Current Ratio . . . . . . . . 0.9 (10.0) 4.9 2.2 1.0
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Total Liab to Net Worth (%) . 162.1 (2.9) 127.4 180.2 297.2
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Sales to Inventory. . . . . . 77.2 10.6 56.2 33.8 20.0
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Return on Sales (%) . . . . . 12.0 10.1 20.1 14.6 11.3
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|
Return on Assets (%). . . . . 5.3 10.4 7.2 5.7 3.7
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|
Return on Net Worth (%) . . . 13.9 9.4 19.0 15.9 12.8
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|
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Industry norms based on 469 firms,
|
|
with assets over $5 million.
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