MCI Communications reported net earnings of $19.8...

MCI Communications reported net earnings of $19.8 million for the first quarter of 1986, down more than 50% from a year earlier. MCI said the earnings reflect the expense of running the newly acquired Satellite Business Systems. The company also attributed the decrease to the issuance of 47 million shares of new MCI stock to IBM in exchange for SBS, and an expected increase in charges for access to local telephone networks.