Telus feels early voice competition, is ruffled by labour trouble but posts good results

VANCOUVER - Revenues and earnings climbed for Telus Corp. in the first quarter of 2005, despite losses in the residential local line market. Consolidated operating revenues of nearly $2 billion in the quarter increased almost 10% from a year ago and operating income was up 46%. Earnings per share for the first quarter were 67 cents, up 139% compared with 28 cents for the same period a year ago. Earnings per share for the first quarter benefited from 15 cents in positive tax related adjustments versus four cents for the first quarter of 2004. Free cash flow increased $123 million...