Connections +
News

Bell Canada Enterprises Q3 revenues reach $4.8 billion

BCE Inc. today reported revenue of $4.8 billion, an increase of 2.2% compared to the same period last year.


November 3, 2004  


Print this page

BCE Inc. today reported revenue of $4.8 billion, an increase of 2.2% compared to the same period last year.

“In the third quarter we continued to make steady progress in the execution of our business plans,” said Michael Sabia, President and Chief Executive Officer of BCE.

During the quarter, BCE recorded restructuring and other charges in the quarter which had a negative impact on reported operating income and on earnings per share (EPS).

The restructuring charge reflects the cost of Bell Canada’s voluntary employee departure program, in which 5,052 employees or approximately 11% of the company’s total workforce will leave the company.

The company has taken a charge of $985 million ($647 million after-tax) in this quarter relating to the departures. Annual savings of $390 million are expected going forward.

“The industry is in a period of rapid change and we are committed to remaining in step with that change,” said Sabia. “New entrants and emerging technologies are altering the competitive landscape and new business models are required.”


Print this page

Related