Qwest To Report First Quarter 2005 Results

Qwest Communications International Inc. (www.qwest.com) today announced that it expects to report first quarter 2005 results on Tuesday, May 3. The company expects to report that it continued to hold revenues flat for the fourth consecutive quarter and to report revenue less cost of sales and SG&A in excess of consensus expectations and in the range of $970 to $990 million.

"We are pleased with our performance in the quarter and look forward to discussing it in more detail next week," said Richard C. Notebaert, Qwest chairman and CEO.

Qwest will report net income per share, as result of a gain of approximately $250 million on the sale of its wireless assets to Verizon Wireless. In addition, Qwest expects cash generated from operations for the quarter will exceed capital expenditures, reflecting focused operating activities and reduced capital expenditures offset by the payment of employee bonuses and the timing of certain payroll tax payments.

The company continues to expect an improvement this year in cash generated from operations less capital expenditures compared with 2004 before one-time payments.

"Our continuing disciplined cost reduction and facilities optimization efforts are paying off and benefiting profitability, as planned. This progress is enabling Qwest to continue investment in our growth products and other strategies to improve our competitive position, financial flexibility and future growth."