Manitoba Telecom Services Inc. reports progress on strategic initiatives and second-quarter 2015 results; free cash flow grew 41% in Q2
|
|
- Darcy Miller
- 6 years ago
- Views:
Transcription
1 News release Manitoba Telecom Services Inc. reports progress on strategic initiatives and second-quarter 2015 results; free cash flow grew 41% in Q2 WINNIPEG, MB, July 30, 2015 (TSX:MBT) Manitoba Telecom Services Inc. ("the Company"), including its two primary operating subsidiaries, MTS Inc. ( MTS ) and Allstream Inc. ( Allstream ), today provided a strategic review implementation update and reported results for the period ended June 30, 2015, including a 41% increase in free cash flow from Q The new strategies for MTS and Allstream have been readily embraced by the two organizations, and we have begun to see some encouraging initiatives and early progress as a result," said Jay Forbes, MTS Allstream, Chief Executive Officer. "In this last quarter, Allstream has been able to deliver double-digit IP revenue growth, a 6.5% increase in EBITDA before restructuring costs and $8.7 million in free cash flow, all the while maintaining the level of customer service that has historically set it apart from its competitors. Within MTS, we have identified opportunities to be more efficient and to become more customer-focused, and will launch corresponding initiatives to capture these opportunities in the third quarter." STRATEGIC REVIEW UPDATE Allstream turnaround As a result of the Q strategic review the Company has taken immediate action to improve free cash flow generation, allowing Allstream to become economically self-sufficient, including: a 25% or approximately 500 person staff reduction that should generate $50 million in annual cost savings and a 20% to 30% reduction in capital expenditures. As of June 30, 2015, 242 employees have left the business while a further 263 employees have received working notice and have scheduled departure dates over the next 14 months. By year end, it is expected that 379 employees will have departed the business. Year to date salaries and benefits cost savings were $3.7 million, representing an annualized cost reduction of approximately $24 million. With the additional 137 in scheduled departures, the expectation is that annualized run-rate savings will grow to approximately $36 million by year end. Further details on Allstream's planned headcount reductions and the impact on 2015 operations can be found in the Q Supplemental at Allstream's new, more rigorous capital investment discipline has lowered capital intensity from 17.9% in Q to 10.7% for this past quarter. In addition this reduction has been accomplished without negative consequences in sales gains, customer satisfaction or installations (converged IP wins increased by 5.6% in the first half of 2015 when compared to the same time frame in 2014). Allstream's restructuring efforts, which are mostly complete for 2015, have resulted in $16.5 million in restructuring costs (as of June 30, 2015). By streamlining operations and improving capital investment decision-making, Allstream generated $8.7 million in free cash flow in the second quarter compared to $5.8 million in Q For the full year, Allstream is expected to be cash flow positive net of restructuring costs
2 We enter the second half of the year with a solid, stable operating platform that is beginning to deliver the financial results we all believed Allstream was capable of generating," said Jay Forbes, MTS Allstream, Chief Executive Officer. Allstream sale process With restructuring largely complete and Allstream positioned to be free cash flow positive for 2015 and beyond, Management has shifted focus to manage a fully-planned exit of this business, one that will maximize value while promoting deal certainty. The Company has retained advisors, has a clear understanding of the approval process and requirements, and is constructing its information repositories for prospective purchasers, who Management plans to engage with in the second half of this year. Pension plans pre-funding On May 6, 2015 the Company completed the pre-funding of $120 million into its pension plans using its existing credit facilities. This one-time pre-funding eliminates the need for solvency payments for 2015 and 2016 under any reasonable economic scenario (and for 2017 and beyond based on consensus bank forecasts for long-term interest rates) with the expectation of enhancing the stability and predictability of free cash flows. Further details on the pension plans and projected funding requirements under various economic circumstances can be found in the Q Supplemental at MTS UPDATE Acquisition of TTC On June 1, 2015, the Company acquired the remaining 50% of the issued and outstanding shares of The Technology Consortium ( TTC ) for a total cash consideration of $7.0 million, becoming TTC's sole shareholder. Through the purchase of EPIC Information Solutions in 2013 MTS was already a 50% stakeholder in TTC, which has long term contracts with the Manitoba Government and other public-sector clients to provide highly-trained professionals dedicated to offering a comprehensive range of both technical and business solutions. Such solutions include managed procurement services, on-site technical support, software distribution and versioning, mobile device management, print and imaging management and core information and technology ("IT") infrastructure support. Now as an integral part of the MTS family, TTC will help strengthen the Company's IT capabilities and create potential for revenue growth and profitability. Further details on the TTC acquisition can be found in the Q Financial Statements and Notes at MTS Total Internet On June 18, 2015, MTS introduced a revolutionary new product that changes the way consumers can purchase their wireless and wireline Internet connectivity. MTS Total Internet provides customers with seamless Internet access anywhere in Canada, anytime, over any device and network all in one plan. With MTS Total Internet all household members can share their data across home, Wi-Fi and wireless connections and across multiple devices, making their Internet experience completely seamless and flexible. With no other communications service provider in Manitoba offering a similar service, the Company believes Total Internet can offer a sustainable competitive advantage in the market place. MTS Data Centre With the majority of MTS Data Centre construction completed, an official opening is scheduled for September
3 Wireless double cohort On May 19, 2015, the Federal Court of Appeal dismissed the challenge of a consortium of wireless service providers, including MTS, that the Canadian Radio-television and Telecommunications Commission did not have the authority to apply the provisions of the Wireless Code to contracts that were already in place before the Code took effect. As a result of this decision, as of June 3, 2015, a large cohort of MTS customers were eligible to exit out of their wireless contracts. On this date MTS post-paid customers without contracts increased significantly, which will likely create a period of heightened competition through the balance of This change in our market place will likely lead to increased churn and increase our deferred wireless costs until the Company re-signs these customers and adds new subscribers. The Company is taking action to mitigate this possible churn issue going forward by leveraging our differentiators, such as MyBundle, MyPlan, our new Total Internet offering and our strong relationships with Manitoba business customers. The Company has plans in place which should increase our percentage of customers on contract, while managing impacts on our deferred wireless costs, leveraging both two-year contract renewals with device subsidy and one-year contract extensions with no device subsidy. Also as a result of this decision, the Company has fully amortized any outstanding deferred wireless costs related to the now invalid three-year contracts. With this accelerated amortization the Company recognized $9.9 million of additional expense in this quarter, of which $8.4 million would have otherwise been expensed in Q3 and Q4 2015, with the remaining $1.5 million expensed in See our Q Supplemental for additional discussion on the wireless double cohort impact. EXECUTIVE LEADERSHIP CHANGES On June 29, 2015, as part of the ongoing re-alignment at MTS Allstream, the Company announced the impending retirement of Kelvin Shepherd, President of MTS and the departure of Wayne Demkey, Chief Financial Officer. With the retirement of Kelvin Shepherd later this year, Chief Executive Officer, Jay Forbes, will assume the MTS president responsibilities in addition to his CEO role. Effective August 1, 2015, Paul Cadieux will assume the role of Chief Financial Officer. Paul joined the Company 18 years ago and has been a key contributor to MTS Allstream operations, most recently as Vice President Finance, Procurement and Real Estate. Also in the quarter, Marvin Boakye was hired as Chief Human Resources Officer. With more than 20 years of experience in leading organization design and change, growing organizational capabilities, and positioning human resources groups as a key performance enabler, Marvin will support the talent development efforts at MTS Allstream. To view more leadership team information, please visit
4 SECOND-QUARTER 2015 RESULTS Consolidated financial results ($ millions, except EPS) Q Q % variance Revenues (1.2) Operations expense EBITDA before restructuring costs (0.7) Restructuring costs 19.6 n.a.* EBITDA (14.5) EPS 2 $0.13 $0.37 (64.9) EPS excluding restructuring costs $0.31 $0.37 (16.2) Capital expenditures Free cash flow EBITDA is earnings before interest, taxes, depreciation and amortization and other income (expense) 2 Earnings per share ("EPS") is based on weighted average shares outstanding of 78.6 million for the three months ended June 30, 2015, 77.4 million for the three months ended June 30, Free cash flow includes cash flows from operating activities less investing activities and excludes changes in working capital, pension solvency funding and lawsuit payments, spectrum auction costs, restructuring costs, the acquisition of TTC and non-cash taxes * not applicable Free cash flow In Q2 2015, consolidated free cash flow increased $13.2 million from Q2 2014, mainly due to our recent efforts to improve both the intensity and effectiveness of our capital investment decision-making within both organizations ($16.1 million after adjusting for 2014 Scientific Research and Experimental Development Investment Tax Credits), partially offset by increased deferred wireless costs ($5.6 million). The following provides further insight into the operating results variances for the quarter: Revenues: MTS saw a $0.5 million increase in revenues from Q2 2014, as strong growth in Internet, IPTV, and wireless data revenues were partly offset by decreases in wireless voice, as well as local and long distance revenues. Allstream s revenues decreased by $7.1 million compared to Q due to declines in local, long distance and other data revenues, partly offset by strong growth in converged IP revenues which were up by $6.6 million or 10.3%. Operations expense: Consolidated operations expense was down 1.5% in Q as Allstream's cost reduction activities took hold; Allstream operations expense decreased by $8.7 million in Q compared to Q mainly due to savings from headcount reductions, lower cost of goods sold and other cost reduction initiatives. MTS (including other) operations expense increased by $3.1 million in quarter mainly the result of increased cost of goods sold (driven by higher equipment sales of $1.7 million) and pension expense ($2.0 million). Restructuring costs: Restructuring costs mainly represent costs associated with Allstream's workforce reduction. The workforce reduction has contributed $3.7 million in salaries and benefits cost savings year to date representing an annualized cost savings of approximately $24 million. EBITDA before restructuring costs: During the second quarter 2015, MTS (including other) EBITDA before restructuring costs was down 2.2% due mainly to an increase in cost of goods sold and pension expense. For the full year, the Company expects MTS (including other) EBITDA before restructuring to be higher than the prior year. Allstream's EBITDA before restructuring costs increased by $1.6 million or 6.5% due to the early impacts from restructuring activities
5 Net income and EPS: In Q2 2015, net income and EPS were down $18.4 million or $0.24, respectively, due largely to increased restructuring costs and increased depreciation and amortization expense which was accelerated in Q2 to reflect the change in government policy on three-year wireless contracts. Capital expenditures: Late Q efforts at Allstream, coupled with more recent changes at MTS, saw capital expenditures decline significantly $16.1 million or 20.6% from Q The following table provides further free cash flow disclosure. ($ millions) Q Q % variance EBITDA before restructuring costs (0.7) Add back (deduct): Deferred wireless costs (20.6) (15.0) (37.3) Finance costs (15.7) (17.5) 10.3 Current cash income tax expense (0.1) n.a.* Pension funding and net pension expense n.a. Other operating activities, net (84.6) Other income 3.1 (1.6) n.a. Gain on revaluation of TTC (5.6) n.a. Loss on disposal of assets (70.0) Total (3.9) Investing activities 1 (62.4) (80.0) 22.0 Free cash flow for the period Excludes spectrum auction costs and the acquisition of TTC * not applicable DIVIDEND The Company s Board of Directors declared a quarterly cash dividend of $0.325 per share for the third quarter of 2015, payable on October 15, 2015 to shareholders of record at the close of business on September 15, The third-quarter dividend is designated an eligible dividend under the Income Tax Act (Canada) and any corresponding provincial legislation. Under this legislation, individuals resident in Canada may be entitled to enhanced dividend tax credits that reduce income tax otherwise payable. Investment community conference call and webcast MTS will hold its second-quarter 2015 earnings results conference call with the investment community on Thursday, July 30, 2015 at 8:30 a.m. (Eastern time). Participants include Jay Forbes, Chief Executive Officer and Wayne Demkey, Chief Financial Officer. To participate, please dial toll-free or A replay will be available until August 6, 2015 by dialing and entering passcode Investors, media and the public are invited to participate on a listen-only basis by logging into the live audio webcast of the conference call on the Company s website or by entering A replay of the conference call will be available on the Company s website for one year
6 Forward-looking statements disclaimer This news release includes forward-looking statements and information (collectively, statements ) including, but not limited to, statements pertaining to the Company s corporate direction, business opportunities, operations, financial objectives, future financial results and performance, sale of Allstream, pension plans funding including assumptions about future interest rates, the declaration of any future dividends and the amount thereof, the intention that surplus cash would be used for such things as share repurchases, the expectation of not having to pay cash income taxes until 2023, ability to reduce capital spending and operating expenses, future cash flows, liquidity, credit ratings and profitability, as well as other statements that are not historical facts. Examples of statements that constitute forward-looking information may be identified by words such as believe, expect, project, should, anticipate, could, target, forecast, intend, plan, outlook, see, set, pending, eliminate and other similar terms. All forward-looking statements are made pursuant to the safe harbour provisions of applicable Canadian securities legislation. Forward-looking statements are subject to risks, uncertainties and assumptions. As a consequence, actual results in the future may differ materially from any forward-looking conclusion, forecast or projection, whether expressed or implied. Therefore, forward-looking statements should be considered carefully and undue reliance should not be placed on them. Please note that forward-looking statements in this news release reflect Management s expectations as at July 30, 2015, and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. This news release and the financial information contained herein have been reviewed by the Company s Audit Committee and approved by the Company s Board of Directors. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters identified in the Risks and uncertainties section and elsewhere in the Company s 2014 annual MD&A, which is available on the Company s website at and at About Manitoba Telecom Services Inc. (MTS Allstream) MTS Allstream (trading symbol: MBT) is one of Canada s leading communications solutions companies. We provide full-service telecommunications support for residential and business customers in Manitoba through MTS, and IP communications through Allstream, the only national provider focused exclusively on the business telecommunications market. We are proud to be widely recognized for our leadership in corporate social responsibility and governance practices. For more information about the MTS Allstream group of companies, visit: For further information, please contact: Investors: Media: Paul Peters, Investor Relations investor.relations@mtsallstream.com Melanie McKague, Corporate Communications media.relations@mtsallstream.com - 6 -
MTS Allstream reports fourth-quarter and full-year results, and announces 2013 financial outlook
Stock symbol: MBT NewsRelease MTS Allstream reports fourth-quarter and full-year results, and announces 2013 financial outlook Learn more about MTS Allstream s 2012 results by visiting the Investors section
More informationQ Supplemental information
Q1 2016 Supplemental information For the three-month period ended March 31, 2016 This supplemental information should be read in conjunction with the Q1 2016 Management's Discussion and Analysis Manitoba
More informationInvestor Presentation. March
Investor Presentation March 2012 www.mtsallstream.com Safe harbour notice This presentation contains certain forward-looking information. Material factors or assumptions were applied in drawing conclusions
More informationJune 2013
www.mtsallstream.com June 2013 Safe harbour notice This presentation contains certain forward-looking information. Material factors or assumptions were applied in drawing conclusions or making a forecast
More informationNovember
1 November 2011 www.mtsallstream.com 2 Safe harbour notice This presentation contains certain forward-looking information. Material factors or assumptions were applied in drawing conclusions or making
More informationMTS Reports Third Quarter Results Fourth Quarter 2006 Cash Dividend Declared
Quarterly Report 3 MTS Reports Third Quarter Results Fourth Quarter 2006 Cash Dividend Declared Year to date 2006 financial performance consistent with full-year outlook Free cash flow from continuing
More informationMTS Reports Strong First Quarter Results With Sustainable Growth in Revenues
Quarterly Report 1 MTS Reports Strong First Quarter Results With Sustainable Growth in Revenues for the period ending March 31, 2008 Manitoba Telecom Services Inc. First Quarter Highlights Total revenue
More informationSafe harbour notice. May 2010
1 May 2010 Safe harbour notice 2 This presentation contains certain forward-looking information. Material factors or assumptions were applied in drawing conclusions or making a forecast or projection reflected
More informationQ Results & 2017 Financial Guidance Call. February 2, 2017
Q4 2016 Results & 2017 Financial Guidance Call February 2, 2017 Safe harbour notice Certain statements made in this presentation are forward-looking statements. These statements include, without limitation,
More informationBELL C ANADA E NTERPRISES REPORTS ITS TH IRD QUARTER 2003 RESULTS
News Release For immediate release (All figures are in Cdn$, unless otherwise indicated) BELL C ANADA E NTERPRISES REPORTS ITS TH IRD QUARTER 2003 RESULTS Cellular and PCS: 124,000 net additions in the
More informationBCE reports 2008 fourth quarter results and announces 2009 business outlook
For Immediate Release This news release contains forward-looking statements. For a description of the related risk factors and assumptions please see the section entitled "Caution Concerning Forward-Looking
More informationIntroduction. Strategic Position
Notice This presentation contains certain forward-looking statements and there are risks that actual results may differ materially from those contemplated by these forward-looking statements. Readers should
More information2017 Q2 Earnings Conference Call
2017 Q2 Earnings Conference Call Forward Looking Statements This presentation includes certain forward-looking statements that are made as of the date hereof and are based upon current expectations, which
More informationQ Results Conference Call. August 4, 2016
Q2 2016 Results Conference Call August 4, 2016 Safe harbour notice Certain statements made in this presentation are forward-looking statements. These statements include, without limitation, statements
More informationConsolidated Financial Statements
2016 Consolidated Financial Statements For the three months ended March 31, 2016 and 2015 Manitoba Telecom Services Inc. www.mts.ca/aboutus CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE
More informationHome Capital Reports Annual and Q4 Earnings, Share Buyback and Dividend Increase
Home Capital Reports Annual and Q4 Earnings, Share Buyback and Dividend Increase Diluted Q4 2015 earnings per share of $1.00; adjusted diluted earnings per share of $1.02 Planned share buyback of up to
More informationQ Results Conference Call. August 3, 2017
Q2 2017 Results Conference Call August 3, 2017 Safe harbour notice Certain statements made in this presentation are forward-looking statements. These statements include, without limitation, statements
More informationShaw Announces First Quarter Results
NEWS RELEASE Shaw Announces First Quarter Results Broadband advantage helps drive solid Q1 performance Calgary, Alberta (January 12, 2017) Shaw Communications Inc. announces consolidated financial and
More informationInvestor presentation
Investor presentation 1 Cautionary note The following materials are for presentation purposes only. These materials should be read in conjunction with the disclosure documents referenced below. Certain
More information8x8, Inc. Announces Financial Results for Second Quarter Fiscal 2014
For Immediate Release 8x8, Inc. Announces Financial Results for Second Quarter Fiscal 2014 Business Revenue Increases a Record 25%; Total Revenue Increases a Record 22% SAN JOSE, Calif. October 23, 2013
More informationBELL CANADA ENTERPRISES REPORTS SECOND QUARTER RESULTS
News Release For immediate release (All figures are in Cdn$, unless otherwise indicated) BELL CANADA ENTERPRISES REPORTS SECOND QUARTER RESULTS Montréal (Québec), August 4, 2004 For the second quarter
More informationBCE Reports 2008 Third Quarter Results
For Immediate Release Montréal, October 29, 2008 This news release contains forward looking statements. For a description of the related risk factors and assumptions please see the section entitled Caution
More informationMood Media Reports 2015 Financial and Operating Results Achieving Revenues of $475.1 Million & EBITDA of $98.4 Million
Mood Media Reports 2015 Financial and Operating Results Achieving Revenues of $475.1 Million & EBITDA of $98.4 Million Grew Underlying Revenues for First Time as a Consolidated Company; up 3.1% Year Over
More informationQ Results & 2019 Financial Guidance Call. February 7, 2019
Q4 2018 Results & 2019 Financial Guidance Call February 7, 2019 Safe harbour notice Certain statements made in this presentation are forward-looking statements. These forward-looking statements include,
More informationWelcome. 5 Strategic Imperatives. Capital structure model. Q1 results
Safe harbour notice Certain statements made in this presentation, including, but not limited to, our financial guidance, plans and strategies, capital structure model, and other statements that are not
More informationTD Bank Financial Group Delivers Strong Fourth Quarter and Fiscal 2005 Results
TD B ANK FIN ANCIAL GR OUP FOURTH QUARTER NEWS REL EAS E 2 005 Page 1 4th Quarter 2005 News Release Twelve months ended October 31, 2005 TD Bank Financial Group Delivers Strong Fourth Quarter and Fiscal
More information2012 RBC Fixed Income Conference
2012 RBC Fixed Income Conference Robert McFarlane EVP & Chief Financial Officer May 15, 2012 TELUS Forward Looking Statement Today's presentation and answers to questions contain statements about expected
More informationFOR IMMEDIATE RELEASE Leap Contacts: Greg Lund, Media Relations
FOR IMMEDIATE RELEASE Leap Contacts: Greg Lund, Media Relations 858-882-9105 glund@leapwireless.com Amy Wakeham, Investor Relations 858-882-6084 awakeham@leapwireless.com Leap Reports Strong Growth for
More informationInvestor presentation
Investor presentation 1 Cautionary note The following materials are for presentation purposes only. These materials should be read in conjunction with the disclosure documents referenced below. Certain
More informationForward-Looking Statements
MANAGEMENT S DISCUSSION AND ANALYSIS For the three and six months ended June 30, 2013 Dated August 16, 2013 Management's Discussion and Analysis ( MD&A ) is intended to help shareholders, analysts and
More informationHealthStream Announces Fourth Quarter & Full Year 2011 Results
HealthStream Announces Fourth Quarter & Full Year 2011 Results NASHVILLE, Tenn.--(BUSINESS WIRE)-- HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning and research solutions for healthcare
More informationHOME CAPITAL UPDATES OUTLOOK FOR 2017 AND REPORTS SECOND QUARTER 2017 RESULTS
HOME CAPITAL UPDATES OUTLOOK FOR 2017 AND REPORTS SECOND QUARTER 2017 RESULTS Toronto, August 2, 2017 - Home Capital Group ( Home Capital or the Company ) (TSX: HCG) today provided a business update and
More informationTD BANK FINANCIAL GROUP SECOND QUARTER 2000 REPORT TO SHAREHOLDERS. Six months ended April 30, 2000
TD BANK FINANCIAL GROUP SECOND QUARTER 2000 REPORT TO SHAREHOLDERS Six months ended April 30, 2000 News Communiqué TD Bank Financial Group reports continued momentum with record growth in second quarter
More informationBCE reports 2011 Q4 and full-year results, announces 2012 financial outlook
For Immediate Release This news release contains forward-looking statements. For a description of the related risk factors and assumptions please see the section entitled "Caution Concerning Forward-Looking
More informationAltus Group Reports First Quarter 2018 Financial Results
Altus Group Reports First Quarter 2018 Financial Results Double-digit year-over-year growth in consolidated Revenues and Adjusted EBITDA TORONTO (May 3, 2018) - Altus Group Limited (ʺAltus Groupʺ or the
More informationFinning reports Q results; increases dividend
Q2 2017 EARNINGS RELEASE August 9, 2017 Finning reports Q2 2017 results; increases dividend Vancouver, B.C. Finning International Inc. (TSX: FTT) ( Finning or the Company ) reported 2 nd quarter 2017 results
More informationAugust 7, Fellow Calix stockholders:
August 7, 2018 Fellow Calix stockholders: Our mission is to connect everyone and everything. Calix platforms empower our customers to build new business models, rapidly deploy new services and make the
More informationVonage Holdings Corp. Reports Third Quarter 2013 Results
Vonage Holdings Corp. Reports Third Quarter 2013 Results -- Vocalocity Acquisition Expected to Close in November 2013 -- -- Second Consecutive Quarter of Positive Net Line Additions -- -- Revenue of $204
More informationBlackBerry Reports Record Software and Services Revenue in Fiscal 2018 Second Quarter
FOR IMMEDIATE RELEASE September 28, BlackBerry Reports Record Software and Services Revenue in Fiscal 2018 Second Quarter Software and services revenue increased 26 percent year over year (non-gaap) and
More informationTOROMONT ANNOUNCES 2017 RESULTS AND INCREASE IN QUARTERLY DIVIDEND
For immediate release TOROMONT ANNOUNCES 2017 RESULTS AND INCREASE IN QUARTERLY DIVIDEND Toronto, Ontario (February 22, 2018) - Toromont Industries Ltd. (TSX: TIH) today reported financial results for
More informationPostmedia to Acquire Sun Media s English Language Newspapers and Digital Properties
Postmedia to Acquire Sun Media s English Language Newspapers and Digital Properties October 6, 2014 (TORONTO) Postmedia Network Canada Corp. ( Postmedia or the Company ) today announced it has entered
More informationAnnual General Meeting of Shareholders. April 29, 2009
Annual General Meeting of Shareholders April 29, 2009 Alan Horn Chairman of the Board of Directors Agenda Opening Remarks Alan Horn Business of the Meeting Alan Horn Operational Review Nadir Mohamed Financial
More informationTRILOGY INTERNATIONAL PARTNERS INC. REPORTS FIRST QUARTER 2017 RESULTS
TRILOGY INTERNATIONAL PARTNERS INC. REPORTS FIRST QUARTER 2017 RESULTS Robust service revenue growth: Strong postpaid subscriber growth of 10% over the same period last year, contributing to a 10% increase
More informationWiLAN Reports 2016 Second Quarter Financial Results
WiLAN Reports 2016 Second Quarter Financial Results OTTAWA, Canada July 28, 2016 WiLAN (TSX:WIN) (NASD:WILN) today reported financial results for the three- and six-month periods ended June 30, 2016. All
More informationEmpire Company Reports Solid Fiscal 2018 Fourth Quarter and Full Year Earnings
FOR IMMEDIATE RELEASE June 28, 2018 Empire Company Reports Solid Fiscal 2018 Fourth Quarter and Full Year Earnings Fourth Quarter Summary Earnings per share of $0.26 compared to $0.11 last year Adjusted
More informationToromont Announces Results for the Third Quarter of 2018 and Quarterly Dividend
Toromont Announces Results for the Third Quarter of 2018 and Quarterly Dividend November 5, 2018 TORONTO, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Toromont Industries Ltd. (TSX: TIH) reported its financial results
More informationNews Release Issued: May 03, :00 AM ET
News Release Issued: May 03, 2011 06:00 AM ET Cognizant Reports First Quarter 2011 Results First quarter revenue up 4.6% sequentially and 43% year-over-year Guidance for Full Year 2011 revenue growth increased
More informationHealthStream Announces First Quarter 2011 Results
HealthStream Announces First Quarter 2011 Results NASHVILLE, Tenn.--(BUSINESS WIRE)-- HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning and research solutions for the healthcare industry,
More informationQ Results & 2018 Financial Guidance Call. February 8, 2018
Q4 2017 Results & 2018 Financial Guidance Call February 8, 2018 Safe harbour notice Certain statements made in this presentation are forward-looking statements. These forward-looking statements include,
More informationSHAREHOLDER REPORT 2017 FIRST QUARTER APRIL 25, 2017
SHAREHOLDER REPORT 2017 FIRST QUARTER APRIL 25, 2017 Table of contents Management s discussion and analysis 1 1 Overview 2 1.1 Financial highlights 2 1.2 Key corporate and business developments 3 1.3 Assumptions
More information1MANAGEMENT S DISCUSSION AND ANALYSIS
Bell Canada 2002 First Quarter Report 1MANAGEMENT S DISCUSSION AND ANALYSIS April 29, 2002 This management s discussion and analysis of financial condition and results of operations (MD&A) for the first
More informationGreat-West Lifeco reports fourth quarter 2018 net earnings of $710 million; announces 6% dividend increase
RELEASE TSX:GWO Readers are referred to the cautionary notes regarding Forward-Looking Information and Non-IFRS Financial Measures at the end of this release. All figures are expressed in Canadian dollars,
More informationPress Release For immediate release
Uni-Select Inc. Reports Third Quarter 2018 Financial Results: Sales up 13.4% to $448.8 million, driven by the contribution of TPA and organic growth; Consolidated organic growth (1) of 3.4% with positive
More informationNCR FORMS STRATEGIC PARTNERSHIP WITH BLACKSTONE. November 12, 2015
NCR FORMS STRATEGIC PARTNERSHIP WITH BLACKSTONE November 12, 2015 FORWARD-LOOKING STATEMENTS Comments made during this conference call and in these materials contain forward-looking statements. Forward-looking
More informationHealthStream Announces First Quarter 2009 Results
HealthStream Announces First Quarter 2009 Results NASHVILLE, Tenn., Apr 27, 2009 (BUSINESS WIRE) -- HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning and research solutions for the healthcare
More informationQ Results Conference Call. August 2, 2018
Q2 2018 Results Conference Call August 2, 2018 Safe harbour notice Certain statements made in this presentation are forward-looking statements. These forward-looking statements include, but are not limited
More informationElement Fleet Management Reports Q4 and Fiscal 2017 Results
News Release Amounts in $CAD unless otherwise noted Element Fleet Management Reports Q4 and Fiscal Results Core fleet after-tax adjusted Q4 EPS of $0.18 per share, in line with prior guidance Executing
More informationECOLAB SECOND QUARTER REPORTED DILUTED EPS $1.20 ADJUSTED DILUTED EPS $1.27, +13% FULL YEAR 2018 ADJUSTED DILUTED EPS FORECAST $5.
News Release Ecolab Inc. 1 Ecolab Place, St. Paul, Minnesota 55102 FOR IMMEDIATE RELEASE Michael J. Monahan (651) 250-2809 Andrew C. Hedberg (651) 250-2185 ECOLAB SECOND QUARTER REPORTED DILUTED EPS $1.20
More informationto $ % increase in strong adoption Adjustedd EPS EPS and due to higher EBITDA (2) derivative contracts Bell (i) EBITDA BCE EBITDA
For Immediate Release BCE reports first quarter 2013 results Net earnings attributable to common shareholders grow 6.6% to $566 million; Adjusted earnings per share up 11.6% to $0.77 Strong Wirelesss and
More informationRogers Communications Reports Strong First Quarter 2006 Results
Rogers Communications Reports Strong First Quarter 2006 Results Quarterly Revenue Grows to $2.0 Billion, Operating Profit Increases to Nearly $600 Million, and Strong Subscriber Growth Continues; Wireless
More informationInvesco Reports Results for the Three Months and Year Ended December 31, 2018
Press Release For immediate release Brandon Burke, Investor Relations Graham Galt, Media Relations 404-439-3468 404-439-3070 Invesco Reports Results for the Three Months and Year Ended December 31, 2018
More informationDriving Profitable Growth
Driving Profitable Growth Frank Calderoni EVP and Chief Financial Officer December 7, 2012 Forward-Looking Statements This presentation contains projections and other forward-looking statements regarding
More informationFourth Quarter 2010 Highlights (compared to the same period in the prior year)
NEWS RELEASE CWB reports strong fourth quarter performance and record results for fiscal Loan growth of 4% in the quarter and 14% for the year Quarterly dividend declared of $0.13 per CWB common share,
More informationBCE Inc Third Quarter Shareholder Report
3 BCE Inc. 2001 Third Quarter Shareholder Report News release October 24, 2001 BCE Announces Third Quarter Results Revenue up 6% EBITDA up 7% Cash baseline earnings up 11% Montréal (Québec), October 24,
More informationVolt Information Sciences Reports 2018 Second Quarter Financial Results
June 7, 2018 Volt Information Sciences Reports 2018 Second Quarter Financial Results NEW YORK--(BUSINESS WIRE)-- Volt Information Sciences, Inc. ( Volt or the Company ) (NYSE-AMERICAN: VISI), an international
More informationTELUS reports strong results for fourth quarter 2016 Announces 2017 financial targets
News Release February 9, 2017 TELUS reports strong results for fourth quarter 2016 Announces 2017 financial targets Strong customer loading across key growth segments with 127,000 net new postpaid wireless,
More informationTDS reports fourth quarter and full year 2017 results Provides 2018 guidance
As previously announced, TDS will hold a teleconference February 23, 2018 at 9:30 a.m. CST. Listen to the call live via the Events & Presentations page of investors.tdsinc.com. FOR IMMEDIATE RELEASE TDS
More informationSPRINT REPORTS HIGHEST RETAIL PHONE NET ADDITIONS IN MORE THAN TWO YEARS WITH FISCAL 2017 SECOND QUARTER RESULTS
SPRINT REPORTS HIGHEST RETAIL PHONE NET ADDITIONS IN MORE THAN TWO YEARS WITH FISCAL 2017 SECOND QUARTER RESULTS Highest share of postpaid phone gross additions in company history o Postpaid phone gross
More informationPress Release. 1 sur 6 19/07/ :35. Print Page Close Window
1 sur 6 19/07/2012 17:35 Print Page Close Window Press Release Quest Diagnostics Reports Second Quarter 2012 Financial Results -- Adjusted diluted EPS of $1.17, up 4.5% -- Reported diluted EPS of $1.11,
More informationVonage Holdings Corp. Reports First Quarter 2014 Results
Vonage Holdings Corp. Reports First Quarter Results -- 40% Year-over-Year Revenue Growth in Vonage Business Solutions -- -- Revenue of 221 Million -- -- Adjusted EBITDA 1 of 29 Million -- -- Net Income
More informationMotorola Mobility Announces Second-Quarter Financial Results
Motorola Mobility Announces Second-Quarter Financial Results Second Quarter Financial Highlights Net revenues of $3.3 billion, up 28 percent from second quarter 2010 GAAP net loss of $0.19 per share compared
More informationTELUS reports strong results for second quarter 2017
News Release August 11, 2017 TELUS reports strong results for second quarter 2017 Strong wireless loading with 99,000 high-quality postpaid net additions, up 62 per cent over last year Record wireless
More informationQ investor conference call November 4, Darren Entwistle, President & CEO Doug French, EVP & CFO
Q3 2016 investor conference call November 4, 2016 Darren Entwistle, President & CEO Doug French, EVP & CFO Forward looking statement Today's presentation and answers to questions contain statements about
More informationMSCI Reports Financial Results for Fourth Quarter and Full-Year 2017
MSCI Reports Financial Results for Fourth Quarter and Full-Year 2017 1 PRESS RELEASE New York February 1, 2018 MSCI Inc. (NYSE: MSCI), a leading provider of indexes and portfolio construction and risk
More informationTELUS reports strong results for fourth quarter and full year 2017 Announces 2018 financial targets
News Release February 8, 2018 TELUS reports strong results for fourth quarter and full year 2017 Announces 2018 financial targets Consolidated revenue and EBITDA growth of 4.9 per cent and 4.7 per cent
More informationThird Largest National Provider
Safe Harbour This presentation contains certain forward-looking statements and there are risks that actual results may differ materially from those contemplated by these forward-looking statements. Additional
More informationBCE to Privatize Affiliate Bell Aliant
BCE to Privatize Affiliate Bell Aliant Analyst Conference Call July 23, 2014 Safe Harbour Notice Certain statements made in this presentation are forward-looking statements. These statements include, without
More informationMay 8, Fellow Calix stockholders:
May 8, 2018 Fellow Calix stockholders: Our mission is to connect everyone and everything. Calix platforms empower our customers to build new business models, rapidly deploy new services and make the promise
More informationPress Release FOR IMMEDIATE RELEASE
Press Release FOR IMMEDIATE RELEASE The financial information reported herein is based on the condensed interim consolidated (unaudited) information for the three-month period ended October 31,, and on
More informationTRILOGY INTERNATIONAL PARTNERS INC. REPORTS FOURTH QUARTER 2016 RESULTS FOR TRILOGY INTERNATIONAL PARTNERS LLC
TRILOGY INTERNATIONAL PARTNERS INC. REPORTS FOURTH QUARTER 2016 RESULTS FOR TRILOGY INTERNATIONAL PARTNERS LLC Strong revenue growth: total revenues increased 17% and consolidated wireless ARPU grew 11%
More informationSPRINT REPORTS INFLECTION IN WIRELESS SERVICE REVENUE WITH FISCAL YEAR 2018 FIRST QUARTER RESULTS
SPRINT REPORTS INFLECTION IN WIRELESS SERVICE REVENUE WITH FISCAL YEAR 2018 FIRST QUARTER RESULTS Wireless service revenue grew sequentially for the first time in more than four years, excluding the impact
More informationATS REPORTS FOURTH QUARTER AND ANNUAL FISCAL 2018 RESULTS
(519) 653-6500 730 Fountain Street North, Cambridge, Ontario N3H 4R7 ATS REPORTS FOURTH QUARTER AND ANNUAL FISCAL 2018 RESULTS Cambridge, Ontario (May 17, 2018): ATS Automation Tooling Systems Inc. (TSX:
More informationFinning reports Q results
Q3 2017 EARNINGS RELEASE November 7, 2017 Finning reports Q3 2017 results Vancouver, B.C. Finning International Inc. (TSX: FTT) ( Finning or the Company ) reported third quarter 2017 results today. All
More informationInvestor Presentation September 2018
Investor Presentation September 2018 Forward Looking Information This presentation includes certain forward-looking statements that are made as of the date hereof and are based upon current expectations,
More informationMSCI Reports Financial Results for Fourth Quarter and Full-Year 2018
MSCI Reports Financial Results for Fourth Quarter and Full-Year 2018 New York January 31, 2019 MSCI Inc. (NYSE: MSCI), a leading provider of indexes and portfolio construction and risk management tools
More informationTELUS Corporation. Fourth Quarter, 2008 Supplemental Investor Information
Yum. Supplemental Investor Information (UNAUDITED) For further information, please contact: Table of Contents TELUS Investor Relations 1-800-667-4871 - Selected Consolidated Data 2 ir@telus.com - Segmented
More informationACXIOM ANNOUNCES FOURTH QUARTER AND FISCAL YEAR RESULTS. Fourth Quarter Revenue Increases 9%
ACXIOM ANNOUNCES FOURTH QUARTER AND FISCAL YEAR RESULTS Fourth Quarter Revenue Increases 9% All Segments Post Fourth Quarter Revenue Growth Led by Connectivity Up 30% Record Bookings Quarter for Marketing
More informationOoma Reports Second Quarter Fiscal Year 2018 Financial Results
NEWS RELEASE Ooma Reports Second Quarter Fiscal Year 2018 Financial Results 8/24/2017 PALO ALTO, Calif., Aug. 24, 2017 (GLOBE NEWSWIRE) -- Ooma, Inc. (NYSE:OOMA), a smart communications platform for small
More informationrising above Q and 2018 targets investor conference call February 8, 2018
rising above Q4 2017 and 2018 targets investor conference call February 8, 2018 Caution regarding forward looking statements This presentation and answers to questions contain forward-looking statements
More informationMSCI Reports Financial Results for First Quarter 2018
MSCI Reports Financial Results for First Quarter 2018 New York May 3, 2018 MSCI Inc. (NYSE: MSCI), a leading provider of indexes and portfolio construction and risk management tools and services for global
More informationRESEARCH IN MOTION REPORTS FOURTH QUARTER AND YEAR-END RESULTS FOR FISCAL 2006
FOR IMMEDIATE RELEASE April 6, 2006 RESEARCH IN MOTION REPORTS FOURTH QUARTER AND YEAR-END RESULTS FOR FISCAL 2006 Waterloo, Ontario Research In Motion Limited (RIM) (Nasdaq: RIMM; TSX: RIM), a world leader
More informationFourth Quarter 2017 Results 2017 Accomplishments 2018 Strategic Priorities and Guidance. February 23, 2018
Fourth Quarter 2017 Results 2017 Accomplishments 2018 Strategic Priorities and Guidance February 23, 2018 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 All information
More informationLevel 3 Reports Fourth Quarter and Full Year 2010 Results
Level 3 Reports Fourth Quarter and Full Year 2010 Results Expects Growth in Core Network Services Revenue and Consolidated Adjusted EBITDA in 2011 Fourth Quarter Highlights Consolidated Revenue increased
More informationNote: All figures in US$ unless otherwise noted. TD Bank Group to acquire Chrysler Financial
Note: All figures in US$ unless otherwise noted. TD Bank Group to acquire Chrysler Financial TD to gain North American organic growth platform Transaction gives TD access to top talent, systems and technology
More informationHealthStream Announces Third Quarter 2011 Results
HealthStream Announces Third Quarter 2011 Results NASHVILLE, Tenn.--(BUSINESS WIRE)-- HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning and research solutions for the healthcare industry,
More informationinvestor conference call
Q2 2010 TELUS investor conference call Robert McFarlane EVP & Chief Financial Officer Darren Entwistle President & Chief Executive Officer Joe Natale EVP & Chief Commercial Officer August 6, 2010 TELUS
More informationVonage 2017 Results Powered by 33% GAAP Business Revenue Growth; Company Continues to Execute on Its Strategic Growth Initiatives
2018 Outlook Vonage 2017 Results Powered by 33% GAAP Business Revenue Growth; Company Continues to Execute on Its Strategic Growth Initiatives Feb 21, 2018-2017 Consolidated Revenues of $1.0 Billion, a
More informationBCE reports 14.1% increase in net earnings to $574 million and 23.4% growth in free cash flow in the first quarter of 2012
For Immediate Release This news release contains forward-looking statements. For a description of the related risk factors and assumptions please see the section entitled Caution Concerning Forward-Looking
More informationACXIOM ANNOUNCES SECOND QUARTER RESULTS. Connectivity Posts Record Revenue and Double-Digit Segment Margin. Strengthens Full-Year EPS Guidance
ACXIOM ANNOUNCES SECOND QUARTER RESULTS Connectivity Posts Record Revenue and Double-Digit Segment Margin Strengthens Full-Year EPS Guidance Repurchases 860,000 Shares in the Quarter CONWAY, Ark., November
More informationTrimble Reports First Quarter Revenue of $289.0 Million and Non-GAAP Earnings Per Share of $0.28
Trimble Reports First Quarter Revenue of $289.0 Million and Non-GAAP Earnings Per Share of $0.28 SUNNYVALE, Calif., April 28, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Trimble (Nasdaq: TRMB)
More information