Telus Q3 Profit Rises - Quick Facts

(RTTNews) - Canadian telecommunications company Telus Corp. (TU, T.TO,T_A.TO) reported that its third-quarter of 2013 net income increased 10% to C$356 million from last year's C$323 million, with earnings per share improving to C$0.56 from C$0.49 last year.

Excluding restructuring and other like costs, the 2012 net gain related to the TELUS Garden residential real estate partnership, the May 2013 long-term debt prepayment premium and income tax-related adjustments, Net income increased year over year by C$42 million or 13% in the third quarter of 2013.

Net income, excluding the items, was C$365 million, up from C$323 million in the prior year. Basic earnings per share excluding the items increased to C$0.58 from the prior year's C$0.49.

Quarterly revenue increased by 3.6 per cent to C$2.87 billion from C$2.77 billion a year earlier. The increase in consolidated revenue was generated by five per cent growth in wireless network revenue and three per cent growth in wireline revenue. Wireless revenue benefited from continued subscriber growth, higher average revenue per unit (ARPU) due to increased smartphone adoption and related increased use of data services. Wireline revenue growth was driven by a nine per cent increase in data revenue, generated by ongoing TELUS TV and high-speed Internet subscriber growth and increasing revenue per customer.

Analysts polled by Thomson Reuters expected the company to report earnings of C$0.54 per share and revenues of C$2.90 billion for the quarter. Analysts' estimates typically exclude special items.

Figures for 2012 have been adjusted for retrospective application of accounting standard IAS 19 Employee benefits.

The company's Board of Directors has declared a quarterly dividend increase of two cents to C$0.36 per share on the issued and outstanding common shares of the Company payable on January 2, 2014 to holders of record at the close of business on December 11, 2013. The new dividend represents a four cent or 12.5 per cent increase from the C$0.32 quarterly dividend paid on January 2, 2013.

For 2013, the company still expects basic earnings per share to be in the range of C$1.90 to C$2.10, and consolidate revenue of C$11.4 billion - C$11.6 billion. Street currently is looking for full-year 2013 earnings of C$2.02 per share on annual revenues of C$11.45 billion.