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From Times Staff and Wire Reports
MCI Communications Corp.: The long-distance telephone company said its fourth-quarter profit jumped 17% to $120 million on revenue that was up 17% to $2 billion. For the year, Washington-based MCI’s earnings dropped 48.9% to $270 million, although earnings were up 19% to $7.68 billion. The company said a $550-million charge to obtain state-of-the-art digital circuit equipment was the reason yearly profit was lower.
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