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operating subsidiaries, all wholly-owned either directly or indirectly.
The telephone subsidiaries account for over 90% of the operating
results.
(1) Pacific Bell (Inc) San Francisco CA. Formed 1906 as a
California corporation. Acquired in 1984 as part of the divestiture of
AT&T. It is the company's largest subsidiary . It provides
telecommunicaton services within its service area in California.
(2) Nevada Bell (Inc) Reno NV. Incorporated in 1913. acquired from
Pacific Bell in 1984 by the divestiture of its stock. Provides
telecommunications, services in Nevada.
(3) Pac Tel Cellular Inc, TX. Renamed subsidiary formerly known
as Comminications Industries Inc. Acquired in 1986. Operates as a
marketer of cellular and paging services. This subsidiary, in turn, has
several primary subsidiaries as follows:.
(a) Gen Com Incorporated. Provides personal paging services.
(b) Multicom Incorporated. Markets paging services.
(4) Pac Tel Personal Communications. Formed to eventually hold all
of the company's cellular and paging operations. It is the parent of the
following:.
(c) Pac Tel Cellular supports the company's cellular activities.
(d) Pac Tel Mobile Services-formed to rent and sell cellular CPE
and paging equipment and resell cellular services, is now largely
inactive.
(5) Pac Tel Corporation, San Francisco CA began operations in Jan
1986 as a direct holding company subsidiary. It owns the stock of the
following companies:.
(e) Pac Tel Communications Companies-operates two primary
divisions, Pac Tel Info Systems and Pac Tel Spectrum Services.
(f) Pac Tel Finance-provides lease financing services.
(g) Pac Tel Properties-engages in real estate transactions holding
real estate valued at approximately $140 million at Dec 31 1986.
(h) Pac Tel Publishing -inactive at present.
(i) Pacific Telesis International-manages and operates
telecommunicatin businesses in Great Britain, Japan, South Korea, Spain
and Thailand.
(6) Pac Tel Capital Resources, San Francisco, CA -provides funding
through the sale of debt securities.
INTERCOMPANY RELATIONS: Includes common management, intercompany
services, inventory and equipment transactions, loans and advances. In
addition, the debt of Pac Tel Capital Resources is backed by a support
agreement from the parent with the debt unconditionally guaranteed for
repayment without recourse to the stock or assets of the telephone
subsidiaries or any interest therein.
08-27(1Z2 /27) 29709 052678678 H
ANALYST: Dan Quinn
12/31/86 COMBINATION FISCAL
(Figures are in THOUSANDS)
FINANCIALS % COMPANY INDST
COMPANY CHANGE % NORM %
Total Current Assets. . . . . 2,156,300 9.3 10.6 22.0
Fixed Assets. . . . . . . . . 17,244,900 1.6 84.9 35.6
Other Non-current Assets. . . 919,300 53.8 4.5 42.4
Total Assets. . . . . . . . . 20,320,500 4.0 100.0 100.0
Total Current Liabilities . . 2,405,100 21.3 11.8 11.6
Other Long Term Liab. . . . . 5,564,600 (7.6) 27.4 46.8
Net Worth . . . . . . . . . . 7,753,300 6.0 38.2 35.2
Total Liabilities & Worth. . 20,320,500 4.0 100.0 100.0
Net Sales . . . . . . . . . . 8,977,300 5.6 100.0 100.0
Gross Profit. . . . . . . . . ---- ---- ---- 40.1
RATIOS % ---INDUSTRY QUARTILES---
COMPANY CHANGE UPPER MEDIAN LOWER
Quick Ratio . . . . . . . . . 0.7 ---- 2.9 1.2 0.6
Current Ratio . . . . . . . . 0.9 (10.0) 4.9 2.2 1.0
Total Liab to Net Worth (%) . 162.1 (2.9) 127.4 180.2 297.2
Sales to Inventory. . . . . . 77.2 10.6 56.2 33.8 20.0
Return on Sales (%) . . . . . 12.0 10.1 20.1 14.6 11.3
Return on Assets (%). . . . . 5.3 10.4 7.2 5.7 3.7
Return on Net Worth (%) . . . 13.9 9.4 19.0 15.9 12.8
Industry norms based on 469 firms,
with assets over $5 million.
% = % = % = % = % = % = % = %
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Phrack Seventeen
07 April 1988
File 4 of 12 : Nitrogen-Trioxide Explosives
------------------------------------------------------------------------------
Working notes on Nitrogen Tri-Iodide (NI-3)
By: Signal Sustain
INTRODUCTION
This particular explosive is a real loser. It is incredibly unstable,
dangerous to make, dangerous to work with, and you can't do much with it,
either. A string of Black Cats is worth far more. At least you can blow up
anthills with those.