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'Cingular Wireless, the largest U.S. wireless phone company, said on Wednesday it expects to report a profit and positive cash flow in 2005, one year earlier than planned, following its $41 billion purchase of AT&T Wireless Services Inc.

Cingular, which is owned by SBC Communications Inc. and BellSouth Corp., expects cost savings of $2.4 billion to $2.9 billion by 2007, roughly double the forecast it gave in February, when it announced the acquisition. Last month, Cingular executives said they would cut 7,000 jobs, or 10 percent of its work force, as part of the integration.'

Read more at Cingular Raises Outlook for Profits