SBC Expects Profit at Low End of Guidance

Local phone company SBC Communications Inc. said it expects its 2002 earnings to be at the low end of its previous guidance as it loses telephone lines to rivals in the weak economy.

SBC, the parent of SBC Pacific Bell, said it was comfortable with Wall Street’s 2002 earnings estimate of $2.26 a share, excluding one-time items. That’s at the low end of its previous forecast of $2.26 to $2.35.

Shares of San Antonio-based SBC fell 28 cents to $20.48 on the NYSE.