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From Times Staff and Wire Reports
Pacific Telesis Earnings Up Sharply: The San Francisco-based parent of Pacific Bell said its fourth-quarter earnings rose 81% to $287 million, or 71 cents a share, from the year-ago period, when it reported net income of $158 million, or 40 cents a share, including a $122-million charge for reducing its work force. Without that charge, earnings in the latest quarter rose only 2.5%. Revenue in the quarter rose to $2.5 billion from $2.47 billion.
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