Manitoba Telecom Services Inc. reports third-quarter 2013 results and 2014 outlook

Learn more about Manitoba Telecom Services Inc.'s Q3 2013 results by visiting www.mtsallstream.com/investors.

Stock symbol: MBT

WINNIPEG, Nov. 7, 2013 /CNW/ - Manitoba Telecom Services Inc. ("the Company"), including its two primary operating subsidiaries, MTS Inc. ("MTS") and Allstream Inc. ("Allstream"), today reported results for the period ended September 30, 2013 and financial guidance for 2014.

Q3 2013 highlights
(Q3 2013 highlights as compared to Q3 2012)
Consolidated

  • Free cash flow increased $28.1 million or 162.4%, to $45.4 million
  • Consolidated EBITDA up 4.0% to $151.5 million, excluding transaction and restructuring costs
  • Revenues down by 3.7% to $408.4 million, mostly due to legacy declines, including planned reductions
  • Achieved annualized cost reductions of $59.0 million
  • Earnings per share ("EPS") of $0.38, down $0.12
  • Board of Directors declares $0.425 per share Q4 2013 cash dividend

MTS

  • Wireless revenues up 4.0%, or 7.6% excluding wireless wholesale
  • Wireless subscriber data revenues up 18.7%
  • Internet revenues up 9.4%
  • IPTV revenues up 3.1%
  • ARPU growth in wireless and Internet

Allstream

  • EBITDA up 17.5% to $30.9 million, excluding transaction and restructuring costs
  • Increased gross margin percentage to 63.2%
  • Converged IP revenues down 0.7%, but up 4.4% excluding impact of Government of Ontario disconnects
  • Reduced operations expense by $10.1 million, or 12.2%

"While we are disappointed in the government's decision to reject the sale of Allstream, the Company goes forward with a solid 2014 outlook and an attractive dividend fully supported by strong and growing free cash flow from our incumbent position in Manitoba, combined with interesting growth opportunities at Allstream," said Pierre Blouin, Chief Executive Officer. "We are particularly encouraged by the operating performance of both divisions (excluding the impacts of the rejected Allstream transaction) and the validation we received through the strategic review process of Allstream's value and potential.

"The plan for Allstream is to continue executing the strategy that delivered 10 consecutive quarters of year-over-year EBITDA growth prior to the transaction announcement. That means we will continue to focus on adding more on-net IP customers, expanding our share of connected buildings in major urban centres across Canada, delivering innovative products and services to our customers, and reducing our cost structure to improve financial performance. In this regard, we decreased Allstream's costs by $10 million in the third quarter, which will positively impact our 2014 results.

"At MTS, we continue to offset anticipated revenue declines in wireless wholesale and legacy lines of business with growth in revenues from strategic services. We expect this growth to continue. MTS enjoys a strong business foundation built on strength across our wireless, high-speed Internet and IPTV products, market-leading customer loyalty, an extensive high-speed network, and a bundled product offering that remains unmatched and unchallenged in Manitoba. It is clear that our two subsidiaries are on the right path and will continue to meet the needs of our customers throughout Manitoba and across Canada."

Since the beginning of the year, strong asset returns to quarter-end and a 70 basis point interest rate increase have helped reduce the Company's pension solvency deficit by one-half. Part of these improvements was factored in to the Company's previous announcement that it would use approximately $170 million of the proceeds from an Allstream transaction to prefund its pension solvency obligations and thereby eliminate solvency payments until at least 2016, or longer if interest rates were to rise. In light of these further improvements in the market, the Company is now reassessing the appropriate level of pension plan prefunding and is contemplating a range of alternative financing strategies with a preference to issuing equity to prepay its solvency funding requirements for the coming years. In the absence of prefunding, the Company's cash solvency requirement for 2014 would be approximately $55 million.

Consolidated
The Company's third-quarter financial performance reflects strategic focus on increasing cash flows by leveraging investments in MTS's wireless and broadband networks in Manitoba, and Allstream's Internet protocol ("IP") fibre network nationally. Results remain on track to achieve the updated financial guidance for the full year. In the third quarter, the Company is once again reporting Allstream as part of its consolidated results.

Consolidated financial results
($ millions, except EPS)
                Q3 2013       Q2 2013       Q1 2013       Q4 2012       Q3 2012
Revenues                 408.4       410.1       406.7       413.1       424.3
EBITDA1                 142.7       132.0       148.6       144.2       145.7
EPS2                 $0.38       $(0.78)       $0.46       $0.44       $0.50
Free cash flow3                 45.4       24.4       47.6       37.1       17.3
Capital expenditures                 68.6       73.0       66.7       73.6       94.5
1 The Company defines EBITDA as "earnings before interest, taxes, depreciation and amortization, and other income (expense)". See the "Notes" section of this news release for further information.
2 EPS is based on weighted average shares outstanding of 67.7 million for the three months ended September 30, 2013; 67.5 million for the three months ended June 30 2013; 67.2 million for the three months ended March 31, 2013, 67.0 million for the three months ended December 31, 2012; and 66.7 million for the three months ended September 30, 2012. The increase in the number of weighted average shares outstanding is mainly due to participation in the Company's dividend reinvestment program.
3 The Company defines free cash flow as "cash flows from operating activities less capital expenditures, and excluding changes in working capital, pre-funded pension solvency payments and spectrum costs". See the "Notes" section of this news release for further information.
 
  • Revenues: $408.4 million, down $15.9 million or 3.7% from Q3 2012. This was mostly due to legacy revenue declines, including $12.2 million in planned reductions at Allstream, and a $2.6-million reduction in MTS wireless wholesale revenues as other carriers move their customers from MTS's CDMA network to their own HSPA networks. These declines were partly offset by revenue growth from strategic lines of business (wireless, broadband and converged IP), which increased by 3.8% over Q3 2012, on the strength of higher ARPU and subscriber growth across these lines of business.
  • EBITDA: $142.7 million, down $3.0 million or 2.1% from Q3 2012, reflecting the negative impact of costs associated with the federal government's rejection of the proposed sale of Allstream. Excluding these transaction and restructuring costs, consolidated EBITDA increased 4.0%, due to the positive impact of cost reductions and improving margins at Allstream along with overall growth at MTS, partly offset by legacy and wireless wholesale declines.
  • EPS: $0.38, down $0.12 or 24.0% from Q3 2012, due to a negative $0.24 impact resulting from an Allstream impairment loss and a negative $0.10 impact resulting from transaction and restructuring costs, partly offset by a lower depreciation and amortization expense resulting from Allstream being held for sale during Q3 2013. IFRS does not allow assets held for sale to be amortized while classified as held for sale.
  • Free cash flow: $45.4 million, up $28.1 million or 162.4% over Q3 2012, mainly due to lower capital expenditures, partly offset by lower EBITDA resulting from transaction and restructuring costs relating to the federal government's rejection of the proposed Allstream sale, amounting to $8.8 million in Q3 2013.
  • Capital expenditures: $68.6 million, down $25.9 million or 27.4% from Q3 2012, mostly due to decreased spending from previously-completed projects such as investments in upgrades to the wireless billing system and LTE wireless technology in Winnipeg and Brandon, and the completion of the 100-GB core network upgrade initiative at Allstream.
  • Annualized cost savings: $59.0 million in Q3 2013, approximately 40% resulting from transaction-related restructuring at Allstream. Cost savings as at Q3 have exceeded the Company's 2013 target of $30 to $40 million.

MTS
MTS delivered growth in revenues from strategic services, while maintaining an industry-leading EBITDA margin of 47.8% in Q3 2013. Revenues from strategic services (wireless and broadband and converged IP) generated growth of 5.7% in Q3 2013, which offset declines in wireless wholesale, local, long distance and legacy data revenues. In Q3 2013, MTS increased the number of customers with bundled services by 2.8%, to 98,585, and had average revenue per user ("ARPU") growth in wireless and Internet product lines. Q3 2013 MTS wireless statistics show that post-paid subscribers increased 0.8%, subscriber revenues grew 7.6%, data subscriber revenues increased 18.7% and data subscriber ARPU was up 21.0% over Q3 2012.

MTS operating revenues
($ millions)
      Q3 2013       Q3 2012        Percent
variance
      YTD 2013       YTD 2012        Percent
variance
Wireless       95.2       91.5       4.0       281.7       272.2       3.5
Broadband and converged IP       58.1       53.5       8.6       169.1       159.6       6.0
Unified communications, security and monitoring       9.5       8.9       6.7       24.9       27.0       (7.8)
Local access       64.0       66.9       (4.3)       192.2       201.1       (4.4)
Long distance and legacy data       17.7       18.9       (6.3)       53.6       57.2       (6.3)
Other       8.2       6.9       18.8       22.1       20.0       10.5
Total operating revenues       252.7       246.6       2.5       743.6       737.1       0.9
                                                 
MTS wireless revenues
($ millions)
      Q3 2013       Q3 2012        Percent
variance
      YTD 2013       YTD 2012        Percent
variance
Subscriber revenues       89.3       83.0       7.6       263.7       243.3       8.4
Wholesale revenues       5.9       8.5       (30.6)       18.0       28.9       (37.7)
Total wireless revenues       95.2       91.5       4.0       281.7       272.2       3.5
  • Subscriber revenues: $89.3 million, up $6.3 million over Q3 2012, driven by an 18.7% increase in wireless subscriber data revenues. 64.5% of MTS's growing post-paid subscriber base now has data plans, driven by demand for smartphones and data usage.
  • Wholesale revenues: Down as expected, as other carriers move their customers from MTS's CDMA network to their own HSPA networks. This decline is expected to be less pronounced in future years and will be partly offset by increased wholesale HSPA revenues.

MTS broadband and converged IP revenues
($ millions)
        Q3 2013       Q3 2012        Percent
variance
      YTD 2013       YTD 2012        Percent
variance
Internet revenues         30.3       27.7       9.4       87.1       82.2       6.0
IPTV revenues         20.1       19.5       3.1       60.5       58.6       3.2
Converged IP revenues         7.7       6.3       22.2       21.5       18.8       14.4
Total broadband and converged IP revenues         58.1       53.5       8.6       169.1       159.6       6.0
  • Internet revenues: $30.3 million, up $2.6 million over Q3 2012, resulting from a 7.3% increase in the high-speed Internet subscriber base.
  • IPTV revenues: $20.1 million, up $0.6 million over Q3 2012, driven by subscriber growth of 7.1%.
  • Converged IP revenues: $7.7 million, up $1.4 million over Q3 2012, driven by strong demand for IP services in Manitoba and migration from legacy data services.

Unified communications, security and monitoring

  • Unified communications, security and monitoring revenues: $9.5 million, up $0.6 million over Q3 2012, reflecting the acquisition of Epic Information Solutions, partly offset by reduced hardware sales.

Local access

  • Local access revenues: $64.0 million, down $2.9 million from Q3 2012, due to lower revenues from line losses due to wireless substitution.

Long distance and legacy data

  • Long distance and legacy data revenues: $17.7 million, down $1.2 million from Q3 2012.
    • Long distance revenues: $10.2 million, down $0.9 million or 8.1% from Q3 2012, mainly due to decreased long distance rates and customers replacing long distance calling with email, text messaging and social networking.
    • Legacy data revenues: $7.5 million, down $0.3 million or 3.8% from Q3 2012, as a result of customers continuing to migrate towards converged IP services.

Allstream
Allstream's Q3 2013 results reflect the negative impact of a prolonged regulatory process and the rejection of its proposed sale. Allstream is focused on continuing to drive growth in on-net IP-based services and improving profitability, a strategy that delivered 10 consecutive quarters of year-over-year EBITDA growth prior to the announcement of its sale on May 24, 2013. Allstream's gross margin percentage increased to 63.2% in Q3 2013, up from 58.6% in Q3 2012. Allstream's cost of goods sold and operations expense decreased 21.6% and 12.2%, respectively. Allstream's diligent cost management and focus on profitability contributed to Allstream EBITDA growth of 17.5%, when excluding transaction and restructuring costs.

Allstream operating revenues
($ millions)
      Q3 2013       Q3 2012        Percent
variance
      YTD 2013       YTD 2012        Percent
variance
Converged IP       60.3       60.7       (0.7)       180.3       182.6       (1.3)
Unified communications, hosting and security       17.3       18.4       (6.0)       56.0       59.4       (5.7)
Local access       37.7       43.6       (13.5)       117.6       138.1       (14.8)
Long distance and legacy data       38.1       45.1       (15.5)       119.6       141.7       (15.6)
Other       10.7       18.4       (41.8)       33.8       58.1       (41.8)
Total Allstream operating revenues       164.1       186.2       (11.9)       507.3       579.9       (12.5)
                                                 
Allstream converged IP statistics
(revenues in $ millions)
      Q3 2013
      Q3 2012        Percent
variance
      YTD 2013       YTD 2012        Percent
variance
Converged IP revenues       60.3       60.7       (0.7)       180.3       182.6       (1.3)
Converged IP gross margin       75.5%       73.5%       2.0 pts       75.1%       72.8%       2.3 pts
Fibre-fed buildings       -       -       -       2,953       2,644       11.7

Converged IP

  • Converged IP revenues: $60.3 million, down $0.4 million from Q3 2013. IP revenues now account for 37% of Allstream's total operating revenues. Allstream's converged IP revenues continue to be impacted by disconnects related to the Government of Ontario's decision to change its telecommunications procurement policy. At its peak in 2009, this contract generated revenues of $33.3 million per year. This contract is expected to generate $4.4 million in revenues in 2013. Therefore, the bulk of the decline is behind us, with only a moderate impact expected in 2014. Excluding the impact of this contract, converged IP revenues would have grown 4.4% in Q3 2013.
  • Converged IP growth: Allstream also signed a three-year, $55-million contract late in the fourth quarter of 2012 with Shared Services Canada and began installing circuits in the third quarter of 2013. Once fully installed, this contract is expected to contribute to solid IP growth in 2014.
  • National IP network expansion: Added 83 buildings to Allstream's national IP fibre network in Q3 2013, which totaled 2,953 fibre-fed buildings as at September 30, 2013, for an increase of 11.7% over Q3 2012.

Unified communications, hosting and security

  • Unified communications, hosting and security revenues: $17.3 million, down $1.1 million from Q3 2012, mainly due to a decrease in one-time product sales, partly offset by an increase in service revenue.

Legacy services

  • Local access revenues: $37.7 million, down $5.9 million from Q3 2012, mainly due to Allstream's decision to accelerate its exit from low-margin wholesale resold business lines. Excluding deliberate exits, local access revenues were down 5.0%, or $2.0 million.
  • Long distance and legacy data revenues: $38.1 million, down $7.0 million from Q3 2012.
    • Long distance revenues: $18.9 million, down $3.2 million or 14.5% from Q3 2012, mainly due to decreased volumes and lower rates.
    • Legacy data revenues: $19.2 million, down $3.8 million or 16.5% from Q3 2012, largely due to a combination of competitive churn, re‑pricing of services and customer migration to IP-based services.

Corporate update
As announced on May 24, 2013, the Company entered into an agreement with Accelero Capital Holdings ("Accelero") to sell its Allstream business and classified Allstream as held for sale, with the financial results of Allstream reported as discontinued operations for the second quarter of 2013. The close of the sale was subject to certain regulatory approval. On October 7, 2013, the federal government announced that it had rejected the proposed acquisition of Allstream by Accelero.

As a result of this announcement, Allstream has been reported as part of the Company's consolidated results. The Company is required to re-measure Allstream at the lower of its carrying amount before it was classified as held for sale, and its recoverable amount. Based on this analysis, the Company recorded an impairment charge of $130.4 million for the nine months ended September 30, 2013 ($107.7 million and $22.7 million in the second and third quarters of 2013, respectively). The Company incurred a combination of non-recoverable, transaction and restructuring costs associated with the proposed sale of Allstream amounting to $21.7 million during the nine months ended September 30, 2013. A further $13 million is anticipated to be recorded in the fourth quarter of 2013. Additionally, IFRS does not allow assets held for sale to be amortized while classified as held for sale, resulting in lower depreciation and amortization expense of $31.5 million for the nine months ended September 30, 2013 ($9.3 million and $22.2 million for the second and third quarters of 2013, respectively). The deposit of $55 million that had been held in escrow pending the close of the Allstream transaction has been returned to Accelero.

For information pertaining to Allstream's performance in the second quarter of 2013, readers are encouraged to visit the "Investors" section of the Company's website at www.mtsallstream.com/investors to review the third-quarter supplementary information package.

Dividend
The Company's Board of Directors declared a quarterly cash dividend of $0.425 per share for the fourth quarter of 2013, payable on January 15, 2014 to shareholders of record at the close of business on December 16, 2013.

The fourth-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.

2014 Outlook
Consolidated 2014 financial guidance reflects continued improvement on the Company's strategic objectives. The Company expects to deliver significant increases in free cash flow and growth across its strategic product lines in 2014. The Company's financial guidance for 2014 is as follows:

2014 financial outlook
(in $ millions, except earnings per share and capital expenditures)
                      2014 outlook       2013 outlook3
Revenues                       1,620 to 1,720       1,630 to 1,730
EBITDA                       580 to 620       540 to 570
EPS1                       $1.60 to $2.00       $1.15 to $1.45
Capital expenditures/revenues                       18% to 20%       17% to 19%
Free cash flow2                       130 to 170       110 to 140
1 Excludes 2013 IFRS-required write-down of Allstream's long-term assets that was based on expected Allstream sale transaction amounts.
2 Free cash flow excludes pension solvency prefunding and potential 2014 spectrum auction costs.
3 Current 2013 outlook updated on October 7, 2013.


The Company expects consolidated revenues in 2014 to be higher than those expected in 2013, as revenue growth from strategic services such as wireless, broadband and converged IP should fully offset the expected and planned reductions in legacy services. At MTS, revenues from strategic services (wireless, broadband and converged IP) should represent 62% of its operating revenues in 2014, while generating moderate growth in its total operating revenues. Allstream is expected to drive growth in IP revenues, which should account for over 40% of its operating revenues in 2014, while experiencing a minimal decline in its total operating revenues. Specifically, Allstream is expected to generate strong growth in IP revenues driven by provisioning the approximately 85% remaining Shared Services Canada orders, along with the conclusion of Government of Ontario disconnects and continuing sales momentum. This growth should nearly offset expected declines in revenues from Allstream's legacy lines of business.

The Company expects 2014 consolidated EBITDA will exceed 2013 results, due primarily to reduced transaction, restructuring and operating costs, along with growth in its MTS subsidiary and cost reductions at Allstream. Specifically, the Company plans additional cost reductions in 2014 in the range of $20 million to $30 million. EBITDA improvements are expected at both subsidiaries, particularly at Allstream, as costs and disruptions associated with the transaction will not be sustained in 2014. Cost reductions initiated in 2013 and strong IP revenue growth should help Allstream produce EBITDA that will exceed levels delivered in 2012.

After adjusting for transaction and restructuring costs, the Company is anticipating the 2014 EPS to be higher than that in 2013 as EBITDA improvements will favourably impact performance.

Total capital spending is expected to be higher in 2014 compared to 2013, allowing for investment in growth and strategic initiatives at MTS and Allstream. At MTS, investments will include expanding and improving wireless and broadband network footprints, such as providing MTS's ultra-fast 4G LTE experience to additional communities in Manitoba. MTS will also make investments in online customer self-service capabilities and functionality, which will enhance the customer experience while enabling efficiencies and reducing operating costs going forward. At Allstream, an additional 300 buildings will be connected to its national IP fibre network to increase the proportion of higher-margin, on-net revenues.

The expected increase in free cash flow in 2014 compared to the prior year can be attributed to planned EBITDA increases, partly offset by higher capital expenditures, as noted above. MTS continues to be a strong foundation, with its strong and growing free cash flow. Allstream free cash flow is expected to fund its own growth initiatives in 2014.

The Company expects that it will not be taxable before 2020 at the earliest due to the negative impact of the proposed Allstream transaction, updated assumptions of future taxable income as well as expected income tax and Scientific Research & Experimental Development ("SR&ED") investment tax credit audit outcomes.

A discussion of the material risks and assumptions associated with this outlook can be found in the Company's third-quarter interim MD&A.

Investment community conference call
MTS will hold its third-quarter 2013 results conference call with the investment community on Thursday, November 7, 2013 at 5 p.m. (Eastern Time). Participants include Pierre Blouin, Chief Executive Officer and Wayne Demkey, Chief Financial Officer.

To participate, please dial toll-free 1-888-231-8191 or 647-427-7450. A replay will be available until Thursday, November 14, 2013 by dialing 1-855-859-2056 and entering passcode 70789673.

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 (www.mtsallstream.com/investors) or by entering http://event.on24.com/r.htm?e=690218&s=1&k=EE7E122B6798854A77BF355A7540DC9F. A replay of the conference call will be available on the Company's website for one year.

   

Notes

(1) The Company defines EBITDA as "earnings before interest, taxes, depreciation and amortization, and other income (expense)". The term "EBITDA", as it relates to 2013 and 2012 results prepared using International Financial Reporting Standards ("IFRS"), does not have any standardized meaning according to IFRS. It is therefore unlikely to be comparable to similar measures presented by other companies.

EBITDA
($ millions)
        Q3 2013       Q3 2012        Percent
variance
      YTD 2013       YTD 2012        Percent
variance
Operating revenues         408.4       424.3       (3.7)       1,225.2       1,291.0       (5.1)
  Operating expenses         (321.2)       (359.1)       10.6       (1,006.5)       (1,088.3)       7.5
  Transaction and restructuring costs         (8.8)       -       n.a.*       (21.7)       -       n.a.
  Depreciation and amortization         64.3       80.5       20.1       226.3       238.3       5.0
EBITDA         142.7       145.7       (2.1)       423.3       441.0       (4.0)

not applicable

(2) The Company defines free cash flow as "cash flows from operating activities, less capital expenditures and excluding changes in working capital, pre-funded pension solvency payments and spectrum costs". Free cash flow is the amount of discretionary cash flow that the Company has for purchasing additional assets beyond its annual capital expenditure program, paying dividends, buying back shares and/or retiring debt. The term "free cash flow", as it relates to 2013 and 2012 results prepared using IFRS, does not have any standardized meaning according to IFRS. It is therefore unlikely to be comparable to similar measures presented by other companies.

Free cash flow
($ millions)
        Q3 2013       Q3 2012        Percent
variance
      YTD 2013       YTD 2012        Percent
variance
Cash flows from operating activities         144.5       145.8       (0.9)       239.7       337.1       (28.9)
Add back (deduct):                                                  
  Pre-funded pension solvency         -       -       -       70.0       -       -
  Changes in non-cash working capital         (30.5)       (34.0)       10.3       16.0       7.8       105.1%
  Capital expenditures         (68.6)       (94.5)       27.4       (208.3)       (264.4)       21.2
Free cash flow for the period         45.4       17.3       162.4       117.4       80.5       45.8

(3) More information can be found in the Company's third-quarter 2013 interim MD&A, condensed interim unaudited consolidated financial statements for the period ended September 30 2013, 2012 annual MD&A, 2012 audited consolidated financial statements and 2012 Annual Information Form, which are available on the Company's website at www.mtsallstream.com/investors and will be available on the SEDAR website.

For information pertaining to Allstream's performance in the second quarter of 2013, readers are encouraged to visit the "Investors" section of the Company's website at www.mtsallstream.com/investors to review the third-quarter supplementary information package.

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, 4G LTE wireless network expansion and fibre-to-the-home deployment, and 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" 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 November 7, 2013, 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 "Corporate update" section in this news release, as well as in the "Risks and uncertainties" section and elsewhere in the Company's third-quarter 2013 interim MD&A and the Company's 2012 annual MD&A, which are available on the Company's website at www.mtsallstream.com/investors and on the SEDAR website.


Manitoba Telecom Services Inc. (MTS Allstream)
MTS Allstream is one of Canada's leading national communication solutions companies, providing innovative communications for the way Canadians live and work today. The company has more than 100 years of experience, with approximately 5,000 employees across Canada. MTS Allstream's business is dynamic and consists of two operating divisions. In Manitoba, MTS is the leading full-service telecommunications provider for residential and business customers. MTS's suite of services includes the latest in wireless technology, broadband services, IPTV, voice services, home security, and an extensive range of business solutions. Across Canada, Allstream is a leader in IP communications and is the only national provider that focuses exclusively on the business telecommunications market. MTS Allstream has nearly two million customer connections spanning business customers across Canada and residential consumers throughout the province of Manitoba. The Company's extensive national fibre optic network spans more than 30,000 kilometres. MTS Allstream has spent 12 consecutive years on the Jantzi Social Index for leadership in social responsibility and is the recipient of the 2011 Governance Gavel Award from the Canadian Coalition for Good Governance, recognizing clear and effective public disclosure and leading governance practices. MTS Allstream's common shares are listed on the TSX (trading symbol: MBT). Customers, stakeholders and investors who want to learn more about MTS Allstream are encouraged to visit: www.mtsallstream.com. For more information about MTS's products and services, please visit www.mts.ca. For more information about Allstream's products and services, please visit www.allstream.com

 

SOURCE: MTS Allstream

For further information:

Investors:  
Paul Peters, Investor Relations
204-941-6178
investor.relations@mtsallstream.com


Media:  
Selena Hinds, Corporate Communications
204-941-8576
media.relations@mtsallstream.com

Profil de l'entreprise

MTS Allstream

Renseignements sur cet organisme

Manitoba Telecom Services Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.