NEW YORK, NOV. 4 -- Bell Atlantic Corp., disclosing figures long held as company secrets, announced today that the major members of its diverse collection of nontelephone subsidiaries are expected to earn a total of $40 million to $45 million in 1987 on revenue of about $875 million.
Helped by this growth, Bell Atlantic as a whole is likely to achieve its goal of raising income by 6 percent to 8 percent during the year, Chairman Thomas E. Bolger said in an upbeat address to a luncheon hosted by the New York Society of Security Analysts.
"We've been successful in addressing market opportunities, and we've been successful in controlling costs," Bolger said.
Bell Atlantic is one of seven regional companies born of the 1984 breakup of the American Telephone and Telegraph Co. It has been the group's leader in expanding out of the traditional telephone business it inherited and into new information industry fields.
Through corporate acquisitions, Bell Atlantic has entered the office equipment and furniture-leasing field. It services computers on contract, runs the country's sixth-largest cellular-telephone operation and advises foreign parties on telephone operations.
"We've come a long way from the stereotype of a sleepy utility company," Bell Atlantic Vice Chairman Raymond W. Smith told the group.
Bolger spoke of a rosy future in which state and federal regulators would drop many controls and let the company be governed more by competition.
Bolger predicted that by 1991, at least 50 percent of Bell Atlantic's revenue could be from businesses whose prices are not regulated. This year, the figure will be about 17 percent.
The Bell operating companies are barred from using funds raised through regulated rates to subsidize affiliates that operate in nonregulated fields. The fear was that they might get into financial trouble through diversifying into unfamiliar territory, threatening the stability of basic telephone service.
Today's presentation stressed that all of the so-called "enterprise companies" that Bell Atlantic has acquired are operating in the black and will require no further capital contributions from the parent.
Its cellular telephone company, Bell Atlantic Mobile Systems, is expected to have revenue of $85 million to $90 million this year, up from $25 million in 1985. That was growth above the industry average, said James G. Cullen, president of Bell Atlantic Enterprises.
Officials gave no company-by-company breakdowns for others of the enterprise group. But they said that companies working in the customer services field would have total revenue of up to $335 million this year.
These companies include Sorbus, a computer maintenance company; Electronic Service Specialists, also in computer servicing; and MAI Canada, a computer distributing and servicing company.
In financial services, which consists primarily of leasing, enterprise companies are projected to have revenue of up to $445 million, officials said. Companies in this category include Bell Atlantic Tricon Leasing, which deals in industrial and office equipment, and Bell Atlantic Systems Leasing, which handles computer mainframes and other high-tech equipment.
Bell Atlantic officials said that all of the enterprise companies are profitable but provided no individual figures. As a group, they were expected to have annual net income of $40 million to $45 million, compared with $16 million in 1985.
No figures were released for the corporation's so-called developmental companies -- seven small-scale operations with business that includes paging services, computer retailing and consulting and software. They said that as a group they were profitable, though some of them as individuals were losing money.
Two analysts attending today's session said they were impressed with the figures. "We're very positive," said Kenneth Leon, an analyst at Bear, Stearns & Co. "We've been recommending Bell Atlantic as a buy for a few weeks now."
Frank Governali, an assistant vice president at Kidder Peabody & Co., said the revenue from the enterprise companies was larger than he expected. "I'm pleased that all three of the major components are profitable," he said.