OTHER NEWS - Jan. 9, 1993
From Times Staff and Wire Reports
GTE Now Shows Loss With Charge: GTE Corp. said it will take charges totaling $2.34 billion against its 1992 earnings for adoption of required accounting standards related to health and life insurance benefits and income taxes. Because of the move, the telecommunications company restated its results for the first nine months of 1992 to show a net loss of $1.17 billion, or $1.30 a share, instead of a previously reported profit of $1.37 billion, or $1.51 a share. GTE, based in Stamford, Conn., said it will adopt Financial Accounting Standard 106 for post-retirement health and life insurance benefits, effective Jan. 1, 1992.
