» Telus Reports 42% Decline in ProfitsTelecommunications Industry News

Telecom News Editorials Reports Glossary

Telus Reports 42% Decline in Profits

7:55 am on February 19, 2006 | Category: Business, Corporate, Telephone

Telus Corp. released its fourth-quarter financial report on Friday, revealing that profits dropped 42% due to a strike, as well as financing and restructuring expenses, which offset revenue from wireless growth.

Net income came in at C$78.5 million ($0.22/share) for last quarter, down from C$135.6 million ($0.36/share) in the final quarter of 2004.

Analysts had predicted revenue of C$2.09 billion, which was right on target, but the phone giant fell significantly short of the $0.29/share average profit prediction.

Aside from a number of one-time expenses, however, Telus claims that their profit would have increased by 40% over last year.

None Found

1 Comment »

RSS feed for comments on this post.

Telus did not ‘suffer’ a ‘strike’ last year as frequently claimed. Telus locked out their employees in British Columbia, using AFI Security forces to ‘guard’ the doors. The doors were open in Alberta to any employees who elected to accept an imposed contract, but in BC, we were not given the choice. Just as the majority of jobs lost since the lock out was ended have been in BC. Telus is in the process of ‘changing because they can’, and does not have basic processes in place for day-to-day operations. Suppliers and shippers who are unionized and refused to cross picket lines are no longer under contract and are ‘not to be used’. Many services have been contracted to ‘Partners’ whose contracts are about to expire and have not been renewed as yet. Telus seems more interested in pursuing charges against certain employees for ‘actions on the picket line’ than conducting business.

Comment by S Taylor — February 20, 2006 #

About this Site:

TeleClick.ca

Telecommunications Industry News