Results tagged “quarterly results” from IP Communications and Technology
Telus Corp.is reporting a 7% increase in revenue in its first quarter. Factoring in a $173 million expense that was added to the financial statements due to a change in Telus’ share option plan last year, profits were up 49% over the same period last year.
Without the adjustment, profits actually dropped 4% for the quarter. Profits were down 27% compared to the last three months of 2007 when a tax adjustment partly accounted for a net income of $400.1 million.
Darren Entwistle, TELUS president and CEO said, “first
quarter results were driven by strong data growth in both the wireless and
wireline business segments. This growth and our cash flow enable TELUS to
continue returning value to shareholders whilst investing in the long-term
success of our company.”
“Based on today’s results, we are reaffirming TELUS’ full
year 2008 financial and operating targets announced last December,” added Mr.
Entwistle. Robert McFarlane, TELUS executive vice-president and CFO, said,
“TELUS successfully accessed the unsettled Canadian capital market in April
with the issue of $500 million of 5.95% long-term notes. Placing these
seven-year notes reflects our strong investment grade credit ratings and further
increased the considerable strength of the TELUS balance sheet in advance of
the upcoming AWS wireless spectrum auction.”
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