SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: October 1, 2003
AT&T CORP.
(Exact Name of Registrant as Specified in Charter)
New York
(State or Other Jurisdiction of Incorporation)
1-1105 13-4924710
(Commission File Number) (IRS Employer Identification No.)
One AT&T Way
Bedminster, New Jersey 07921
(Address of Principal Executive (Zip Code)
Offices)
Registrant's telephone number, including area code: (908) 221-2000
Not Applicable
(Former Name or Former Address, If Changed Since Last Report)
A New York Commission File I.R.S. Employer
Corporation No. 1-1105 No. 13-4924710
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
What are we disclosing?
On October 1, 2003, David W. Dorman, our Chairman and Chief Executive Officer,
disclosed that for the second quarter of 2003, AT&T Business Services had EBITDA
of $1.7 billion and AT&T Consumer Services had EBITDA of $525 million.
Reconciliation of AT&T Business Services EBITDA and AT&T Consumer Services
EBITDA to AT&T net income for the three month period ended June 30, 2003:
For the three months ended June 30, 2003:
AT&T Business Services:
Operating Income $597
Depreciation and amortization ($1,133)
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AT&T Business Services EBITDA $1,730
AT&T Consumer Services:
Operating Income $489
Depreciation and amortization ($36)
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AT&T Consumer Services EBITDA $525
Corporate & Other:
Operating Income ($57)
Depreciation and amortization ($28)
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Corporate & Other EBITDA ($29)
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AT&T EBITDA $2,226
Depreciation and amortization (1,197)
AT&T Latin America impairment charge -
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Subtotal Operating Income 1,029
Other income (expense), net 86
Interest (expense) (296)
(Provision) for taxes (308)
Minority interest income -
Net earnings (losses) related to equity investments 25
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Net income from continuing operations 536
Net (loss) from discontinued operations -
Gain on disposition of discontinued operations -
Cumulative effect of accounting change 0
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AT&T Net income $536
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Our senior management believes that EBITDA is relevant in assessing our
financial performance.
The information in this Form 8-K shall not be deemed "filed" for purposes of
Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, except as shall be
expressly set forth by specific reference in such filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AT&T CORP.
/s/ Robert S. Feit
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By: Robert S. Feit
Vice President - Law and Secretary
October 6, 2003