AYLMER – Third quarter results at Amtelecom Income Fund showed revenues from the fund’s telecommunications, cable TV and Internet operations of $6.1 million, EBITDA of $3 million and net earnings of $1.1 million ($0.18 per unit).
This is identical to the results of Q3 2004.
For the nine month period ending September 30, 2005, the fund generated total revenues of $17.8 million and net earnings of $3.4 million ($0.58 per unit). This compares to total revenues of $18 million and net earnings of $3.3 million ($0.55 per unit) over the same nine month period of 2004. For the three month period ending September 30, 2005, the fund declared distributions to unitholders totaling $0.30 per unit compared to distributions of $0.30 per unit for the same period ending September 30, 2004.
For the nine month period ending September 30, 2005, the fund declared distributions to unitholders totaling $5.4 million or $0.90 per unit compared to $5.3 million or $0.89 per unit for the same period in 2004.
"We are successfully executing our business plan for 2005,” said Amtelecom president and CEO Michael Andrews, The tremendous momentum of our Internet business continues with growth of 28% over the previous year and 7% in the third quarter alone. Our new long distance plans have also resonated well with customers as reflected in a 10% revenue growth over the previous year."
Amtelecom now serves a total of 6,975 Internet customers, 8,850 cable customers and 21,726 phone customers (down 2 from the end of calendar 2004).
Amtelecom Income Fund owns Amtelecom Communications, which is the local telephone service and cable provider to several communities in southwestern and central Ontario.
