Rogers Communications 4Q Adjusted Net Jumps 57% on Stronger Revenue

Canada's Rogers Communications posted double-digit growth in revenue and earnings in the fourth quarter of 13% and 44%, respectively.

The Toronto communications company posted a fourth-quarter profit of C$254 million or 40 Canadian cents a share, up from C$176 million or 27 Canadian cents a year earlier.

Adjusted earnings jumped to C$302 million or 47 Canadian cents a share from C$192 million or 30 Canadian cents a year earlier. The Thomson First Call mean estimate was for earnings of 41 Canadian cents a share.

Revenue of C$2.69 billion was up from C$2.37 billion a year earlier.

Rogers said wireless postpaid net additions fell to 158,000 from 189,000 and wireless postpaid subscriber monthly churn fell to 1.17% in its latest quarter from 1.24% a year earlier. Cable ended the quarter with 656,000 residential voice-over-cable telephony subscriber lines, while Cable's Internet subscriber base rose by 46,000 in the quarter.

The company backed its 2008 financial and operating guidance provided in January.

-Judy McKinnon; 416-306-2100; AskNewswires@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 22nd February 2008