PacTel’s Profit Drops 19% in Fourth Quarter : Telecommunications: Results were affected by a $122-million charge to pay for a cut in its work force.

Pacific Telesis Group on Monday reported a 19% drop in fourth-quarter profit, saying results were dragged down by a $122-million charge to pay for a reduction in the company’s work force.

PacTel earned $158 million, or 40 cents a share, for the three-month period ended Dec. 31. It earned $196 million, or 50 cents a share, for the same quarter of 1990.

Quarterly revenue rose 1% to $2.46 billion from $2.44 billion.

Without the restructuring charge, fourth-quarter earnings would have been $280 million, or 71 cents a share. Profit for the final quarter of 1990 would have been $268 million, or 68 cents a share, without a $72-million charge to cover the divestiture of real estate owned by a subsidiary.

“I am very pleased with the ability of Pacific Telesis to absorb the effect of the recession and still turn in a strong financial performance,” said Sam Ginn, PacTel’s chairman and chief executive.

“The soft economy had an influence on our revenues. We compensated by holding our costs down.

“Pacific and Nevada Bell continued to grow, though at a more modest pace than in the last few years,” Ginn said. “PacTel Cellular had a very good year, and PacTel Paging had its best year ever.”

PacTel, its primary subsidiary, reduced its work force by about 3,300 in 1991, the company said. The San Francisco-based telecommunications corporation has set a goal of cutting 11,000 jobs by 1995.

For the year, Pacific Telesis earned $1.02 billion, or $2.58 a share, down 1.4% from $1.03 billion, or $2.59 a share, in 1990.

Without restructuring charges in both years and a one-time, after-tax gain of $28 million in 1991, per-share profits would have been $2.77 in 1990 and $2.81 last year.

Revenue for 1991 was $9.9 billion, up 1.8% from $9.7 billion in 1990.