WASHINGTON — MCI Communications Corp., the leading long-distance rival to American Telephone & Telegraph, said Monday that it returned to the black in 1987 as quarterly sales topped $1 billion for the first time and the benefits of a restructuring took hold.
For the fourth quarter, MCI earned $33 million on sales of $1.04 billion. That contrasts with a loss for the year-ago period of $502 million, including a pretax charge of $585 million from an equipment writedown and creation of a reserve for restructuring.
Sales for the 1986 fourth quarter were $920 million.
For the year, MCI's earningsreached $88 million on sales of $3.94 billion, contrasted with a loss of $448 million on sales of $3.59 billion in 1986.
The improvement "can be attributed to a steady flow of new products and services, a strengthening of the company's sales and marketing organization and the operating efficiencies resulting from the companywide restructuring in December, 1986," said Bert Roberts Jr., president and chief operating officer.