Profits, revenues dip at MTS Allstream despite "solid performance"

WINNIPEG – Profits at MTS Allstream fell 24.3% in the third quarter, though the company said Thursday that it is still on-track to meet its updated financial outlook for 2011. Net income for the quarter ended September 30 was $37.0 million, compared to $48.9 million in the same period last year, while operating revenues were down 1.7% to $443.2 million from $451.0 million in the third quarter of 2010. EBITDA dropped 8.1% to $146.9 million this quarter, compared to $159.9 million year-over-year. "While year-over-year consolidated results are negatively impacted by one-time recoveries in the third quarter of 2010, the Company...