Profits climb 58% at MTS Allstream

WINNIPEG – First quarter profits at MTS Allstream jumped 58% driven by performances in its wireless and broadband divisions, the company announced Wednesday.Net income for the quarter ended March 31, 2011 was $43.4 million, more than double $27.4 million in the same period last year, which the company said was due to an increase in EBITDA and other income, partly offset by higher depreciation, amortization expense, and income tax expense. Consolidated revenues of $439.3 million in the quarter were down 6% from $442 million year-over-year, though EBITDA grew 14.7% ($19.2 million) compared to the same period in 2010.CEO Pierre Blouin said...