	att t cost cutting efforts on target american telephone and telegraph co chairman james e olson said he is very pleased with the company s efforts so far to cut costs he told a meeting of securities analysts that although the company is not yet at point in its cost cutting drive to improve profit margins it is on the right track olson said att s cash flow was very strong in the first two months of the year better than budgeted while olson does not know if the company s ings and revenues will improve by yearend he said att is moving in the proper direction for att s ings dropped to mln dlrs or five cts a share on revenues of billion dlrs from billion dlrs or dlrs a share on revenues of billion dlrs in during att took billion dlrs in charges from expenses related to reducing its work force by reuter 
