Telus Corp. 4Q Net Up 66% on Favorable Tax Adjustment
Favorable tax adjustments and lower financing charges contributed to a 66% improvement in Telus Corp.'s fourth-quarter earnings, while revenue rose 3%.
The Vancouver telecommunications company earned C$400.1 million or C$1.22 a share, up from C$240.5 million or 70 Canadian cents a year earlier.
Excluding tax-related adjustments in both periods and a charge for a net-cash settlement feature for share options, earnings in the latest quarter were C$258 million or 79 Canadian cents a share.
The Thomson First Call mean estimate was for earnings of 83 Canadian cents a share.
Revenue for the quarter improved to C$2.33 billion from C$2.25 billion, driven by 9% growth in wireless revenue and 7% growth in wireline data revenue, partly offset by declines in local and long distance wireline revenue.
Free cash flow jumped 85% to C$427.8 million. EBITDA in the quarter rose 8% to C$953 million.
-Judy McKinnon; 416-306-2100; AskNewswires@dowjones.com
(END) Dow Jones Newswires
Posted to the site on 15th February 2008