Pacific Telesis Group: The parent of Pacific...

Pacific Telesis Group: The parent of Pacific Bell and Nevada Bell, citing costly regulatory adjustments, reported third-quarter earnings of $278 million. That was off 9.3% from the same period a year earlier, when it posted a record profit for the three-month period ending Sept. 30. Pacific Telesis said revenue edged down to $2.37 billion from $2.38 billion last year, during the quarter. The decline was partly due to $33 million in regulatory charges, the company said.