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MTS reports solid fourth quarter results

Manitoba Telecom Services Inc. today released fourth quarter and year-end results and also announced that its board...


February 1, 2005  


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Manitoba Telecom Services Inc. today released fourth quarter and year-end results and also announced that its board of directors have declared a first quarter cash dividend of $0.65 per share.

For the three months ended December 31, revenues were $503.9 million, bringing total revenues for the year to $1.5 billion.

Earnings per share for the year was $4.31.

“2004 was a year of tremendous change for our company," said Bill Fraser, CEO of MTS. "Following the acquisition of Allstream, we undertook a comprehensive process of corporate integration, asset alignment and re-positioning for new growth and profitability. We believe that our financial results provide a strong indication of the progress we are making in transforming our company.”

On a pro forma basis, MTS generated revenues of $2 billion, EBITDA of $675.8 million and free cash flow of $262.5 million.

Last March, MTS agreed to acquire all of the Class A and Class B shares of Allstream in a transaction valued at $1.7 billion.