WINNIPEG – Revenue and earnings continued to grow in the second quarter of 2005 for Manitoba Telecom Services, the company announced Thursday.
Consolidated revenues for the quarter were $502.2 million, up by 59.9% from a year earlier, with EBITDA climbing 25.5% to $172.0 million and operating income increasing by 31.2% to $94.6 million.
On a year to date basis, revenues were $997.3 million compared to $525.1 million, EBITDA climbed from $251.2 million in the first six months of 2004 to $331.1 million in 2005, and EPS from continuing operations was $1.43 versus $1.10 in 2004. The consolidation of the results of its national division, Allstream Inc. beginning June 4, 2004, and the Manitoba division, contributed to these consolidated results.
"We had yet another solid quarter of results in the strategic areas of the business driving our evolution, profitability – and, ultimately, our long-term growth – as a leading national communications provider in Canada," said Bill Fraser, CEO, in the press release. "We’re very pleased with our progress in delivering stable revenues and solid profitability from the National division – the Allstream team. And that’s great news, a positive indication that, through the Allstream acquisition, we can deliver strong results while being an innovator intent on building national market share. These achievements, combined with solid growth from the Manitoba division in both revenues and EBITDA, continue to bode well in relation to our expectations for the year."
As for its digital video product, MTS TV, the company provided no updated figures beyond its announced 40,000th customer installed May 25th, other than to say it was at 19% penetration in Winnipeg.
The leading drivers at the company in the quarter were its wireless and Internet services.
MTS also announced today that John MacDonald, president of its Allstream, National division, will be returning from medical leave and resuming his duties effective August 2, 2005.
