10.17.1996Corporate

BELL ATLANTIC CORPORATION AND SUBSIDIARIES


BELL ATLANTIC CORPORATION AND SUBSIDIARIES
size = +2>






Media contacts:

David Stakun, 215-963-6639

Condensed Consolidated Statements of Operations (unaudited)

(In millions, except per-share amounts)

            
                         Three months ended       Nine months ended 
                             September 30,         September 30,
                         1996          1995      1996         1995
Operating Revenues
Transport Services:
   Local service         $1,176.9  $1,118.6     $3,496.0  $3,305.2 
   Network access           886.9     856.2      2,632.6   2,549.5 
   Toll service             340.2     355.9      1,059.9   1,082.2
Ancillary Services:
   Directory publishing     288.0     273.4        863.0     826.3 
   Other                    156.8     142.3        436.8     414.9
Value-Added Services        411.0     353.0      1,169.3   1,010.6 
Network Services Revenues 3,259.8   3,099.4      9,657.6   9,188.7
     
Wireless Services          -- (a)    -- (a)       --  (a)    628.0 
Other Services               38.0     161.7 (b)    107.3     458.6 (b) 
Total Operating Revenues  3,297.8   3,261.1      9,764.9  10,275.3
     
Operating Expenses
Employee costs,
  including benefits
  and taxes                1,018.9  1,034.6      2,983.1   3,129.5
Depreciation and 
  amortization               649.1    642.5      1,916.8   1,991.9
Other                        840.6    864.6      2,466.4   2,760.0 
Total Operating Expenses   2,508.6  2,541.7 (b)  7,366.3   7,881.4 (b)
     
Operating Income             789.2    719.4      2,398.6   2,393.9
     
Equity in income of 
  affiliates (a)             105.8     74.5        271.7      90.3
Other income (expense), 
  net                         (9.9)   317.1        (14.3)    324.0
Interest expense             119.9    133.9        360.5     420.5 
Income before provision 
  for income taxes           765.2    977.1      2,295.5   2,387.7
Provision for income taxes   281.9    372.3        847.4     921.3
     
Net Income                  $483.3   $604.8     $1,448.1  $1,466.4
     
Earnings Per Common Share    $1.10    $1.38        $3.29     $3.35
     
Cash dividends declared 
  per common share            $.72     $.70        $2.16(c)  $2.10
Weighted average number
  of common and equivalent
  shares outstanding         439.1    438.5        439.6     437.9

    (a) On July 1, 1995, the company contributed its
    domestic cellular
    business to a partnership and accounts for its share of the
    partnership's results under the equity method.

    (b) Includes revenues and expenses from Bell Atlantic Business
    Systems Services, sold in October 1995, as follows:

     
                         Three months ended        Nine months ended 
                         September 30, 1995       September, 30, 1995
     
Operating Revenues - 
  Other Services              $127.9                     $374.8
Operating Expenses             119.2                      362.8 


(c) Includes payment of $.005 per common share for
redemption of
rights granted under the company's Shareholder Rights Plan.


BELL ATLANTIC CORPORATION AND
SUBSIDIARIES

Per Share Analysis (unaudited)

(In millions)

     
                         Three months ended        Nine months ended 
                           September 30,              September 30,
                         1996          1995        1996         1995
     
Earnings per Share, 
  as reported           $1.10         $1.38       $3.29        $3.35
Adjustments:                  
  Gain on sale of 
  conflicted cellular
  properties              --           (.46)       --           (.46)
Non-recurring business 
  development charges     --            .09        --            .09 
Adjusted Earnings 
  per Share              1.10         $1.01       $3.29        $2.98   

Other Selected Data (unaudited)

(In millions)

                                                September 30,
                                          1996                1995
     
Return on Average Common Equity
  Three months ended                      27.1%               36.2% 
  Nine months ended                       26.4%               30.5%
Total Assets (in millions)           $23,908.9           $24,546.0 
Total Employees                         61,300              67,800 (d)


(d) Total Employees in 1995 includes 4,400 employees of Bell Atlantic
Business Systems Services, which was sold in October 1995.


BELL ATLANTIC CORPORATION AND
SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows (unaudited)

(In millions)

                                       Nine months ended September 30,
                                       1996                       1995
     
Cash Flows from Operating Activities 
Net income                             $1,448.1               $1,466.4 
Depreciation and amortization           1,916.8                1,991.9 
Gain on sale of cellular 
  properties, net of tax                  --                   (203.0)
Equity in income of affiliates           (271.7)                (90.3) 
Dividends received from affiliates         92.9                  81.3 
Other, net                                  1.4                (330.1)
     
Net Cash Provided by Operating 
  Activities                            3,187.5               2,916.2
     
Net Cash Used in Investing 
  Activities                           (1,684.1)             (1,952.5)
Net Cash Used in Financing 
  Activities                           (1,761.4)             (1,008.9)
     
Decrease in Cash and Cash 
  Equivalents                            (258.0)                (45.2)
     
Cash and Cash Equivalents, 
  Beginning of Period                     356.8                 142.9
     
Cash and Cash Equivalents, 
  End of Period                           $98.8                 $97.7



BELL ATLANTIC NYNEX MOBILE
CELLULAR OPERATIONS(unaudited)

     
                                      Three months ended September 30,
     
                                      1996         1995      % change
Selected Operating Data
Controlled POPs (1) (000)            56,513       55,840        1.2 
Owned POPs (2) (000)                 54,461       53,511        1.8 
Subscribers (000)                     4,054        2,973       36.4 
Penetration (3)                         7.2%         5.3%      34.7 
Churn                                   1.9%         1.7%      11.8 
Revenues per subscriber per month (4)   $60          $63       (4.4) 
Acquisition cost per gross add (5)     $233         $216        7.9 
Cash expense per subscriber             $36          $37       (2.7)
     
Selected Financial Data
(Dollars in millions)
Operating revenues (6)               $657.3       $497.6       32.1 
Less:  Cost of equipment               91.5         69.1       32.4 
Net revenues                          565.8        428.5       32.0 
Operating income                      155.7        117.3       32.7 
Pre-tax income (7)                    144.2        111.3       29.6 
Operating cash flow (8)               232.8        184.2       26.4 
Operating cash flow margin               41%          43%      (4.7) 
Capital expenditures
excluding acquisitions                256.0        76.1       236.4
     

Footnotes:

    (1) Controlled POPs represent the total number of
    POPs for markets in
    which BANM has operating control.


    (2) Owned POPs represent BANM percentage ownership in all licensed
    markets.


    (3) Penetration is calculated by dividing subscribers by controlled
    POPs.


    (4) Revenue per subscriber is calculated using service revenues,
    incollect roaming, outcollect roaming and equipment revenue.
    Incollect roaming revenues were $56.9 million and $151.7 million
    for the three and nine months ended 9/30/96, respectively and
    $48.3 million and $125.4 million for the three and nine months
    ended 9/30/95, respectively.


    (5) Acquisition costs include commission expense and net margin on
    sale of customer equipment.


    (6) Operating revenues include service revenues, outcollect roaming,
    and equipment revenues.


    (7) Pre-tax income represents the income distribution to the two
    equity partners, Bell Atlantic and NYNEX.


    (8) Operating cash flow equals operating income plus depreciation and
    amortization.

####

News Release: Bell Atlantic Third-Quarter Earning
Up 9 Percent