Sprint to Reconsider Integrated Network Plan
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Sprint Corp. said it would review its high-speed integrated network project and may change service plans by the end of August.
Credit Suisse First Boston analyst Dan Reingold, who recently met with Sprint’s management, said the reevaluation might prompt Sprint to curtail or cancel the commercial launch of its ION (integrated on-demand network) services for consumers and small businesses. The medium- and large-business segment is not being reassessed.
ION allows customers to make phone calls, send and receive faxes and access the Internet over a single phone line.
Sprint aimed to launch the ION consumer and small-business service broadly in the second half of 2001. Curtailing or canceling that project could reduce Sprint’s expenses and eliminate some earnings dilution. That could boost Sprint’s earnings by about 20 cents a share in the second half of 2001, and by about 45 cents a share in 2002, Reingold said.
Shares of Sprint rose 3 cents to $20.84 on the New York Stock Exchange.
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