8-K 1 eightk100103.txt FORM 8-K FOR THE PERIOD OF 10/01/2003. 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) -------- AT&T Business Services EBITDA $1,730 AT&T Consumer Services: Operating Income $489 Depreciation and amortization ($36) -------- AT&T Consumer Services EBITDA $525 Corporate & Other: Operating Income ($57) Depreciation and amortization ($28) -------- Corporate & Other EBITDA ($29) -------- AT&T EBITDA $2,226 Depreciation and amortization (1,197) AT&T Latin America impairment charge - -------- 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 -------- Net income from continuing operations 536 Net (loss) from discontinued operations - Gain on disposition of discontinued operations - Cumulative effect of accounting change 0 -------- AT&T Net income $536 ======== 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 ---------------------------------- By: Robert S. Feit Vice President - Law and Secretary October 6, 2003