BURNABY, BC, May 15, 2013 /CNW/ - GLENTEL Inc. (TSX: GLN) today reported its results for the 1st quarter ended March 31, 2013. Financial highlights (tabular amounts in thousands of Canadian dollars, except per share data) follow.
Three months ended March 31 |
||
2013 | 2012 | |
Sales | $305,664 | $148,347 |
Income before amortization, change in fair value of redeemable financial instruments, other, finance income and expenses, and taxes |
$13,959 | $7,227 |
Income before change in fair value of redeemable financial instruments, other, finance income and expenses, and taxes |
$7,606 | $4,628 |
Net income | $3,261 | $3,322 |
Basic and diluted net income per common share | $0.15 | $0.15 |
"We are pleased to report strong worldwide sales performance in the first quarter, with our Canadian, United States, and Australian operations all providing robust results," stated Thomas Skidmore, GLENTEL's President and Chief Executive Officer. "In the first quarter of 2013, GLENTEL, with Target® Canada, successfully launched 24 new Target Mobile® stores in the Greater Toronto area. On May 7, GLENTEL opened an additional 22 Target Mobile stores across British Columbia, Alberta, and Manitoba, with a planned build out of 124 stores across Canada in 2013. With store expansions in Canada, US, and Australian, including our recent entry into the Philippines with our first four mall stores in Manila, growth opportunities seem abundant for GLENTEL, as we now operate in four countries on three continents."
Consolidated highlights
1st Quarter 2013 compared to 2012
Net income and basic earnings per common share were $3.3 million and $0.15 per share, respectively, compared to $3.3 million and $0.15 per share.
Highlights for each business unit follow.
Retail Canada
1st Quarter 2013 compared to 2012
Retail U.S. Division - Diamond Wireless
1st Quarter 2013 compared to 2012
Retail U.S. Division - Wireless Zone®
1st Quarter 2013
Retail Australia Division
1st Quarter 2013
Business Division
1st Quarter 2013 compared to 2012
Corporate
1st Quarter 2013 compared to 2012
About GLENTEL
Celebrating its 50th anniversary in 2013 and based in Burnaby, BC, Canada, GLENTEL (TSX: GLN), is the largest independent multi-carrier mobile phone retailer in Canada and Australia. In the United States, GLENTEL operates two of the six National Premium Retailers for Verizon Wireless. GLENTEL is a leading provider of innovative and reliable wireless communications services and solutions, offering a choice of network carrier and wireless or mobile products to consumers and commercial customers.
GLENTEL's brands - GLENTEL Wireless, WIRELESSWAVE, WAVE SANS FIL, Tbooth wireless, la cabine T sans fil, WIRELESS etc., SANS FIL etc…, Mac Station, Diamond Wireless, Wireless Zone, and Allphones - span four countries and three continents. The Company employs over 3,800 employees and operates more than 1,180 locations including more than 360 locations in Canada located in retail malls, Costco Wholesale stores, Target Canada stores, and business centres; more than 620 retail locations in the United States; and more than 195 retail locations in Australia and 4 mall stores in the Phillipines. In addition, Target Canada has licensed GLENTEL to open and operate in 2013 more than 120 mobile communications sales and service kiosks within its stores, under the brand Target Mobile®, of which 46 are now open.
Forward-Looking Statements
Certain statements in this release about our current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements. The words "may", "will", "would", "should", "could", "expects", "plans", "intends", "trends", "indicates", "anticipates", "believes", "estimates", "predicts", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Certain assumptions have been made in respect of the determination of (i) impairment of property and equipment, intangible assets and goodwill, (ii) useful lives of property and equipment, intangible assets, (iii) fair value of financial instruments, (iv) fair values of assets and liabilities acquired in business contributions, (v) taxes, (vi) contingencies, and (vii) provisions. Many factors could cause our actual results, level of activity, performance, achievements, future events or developments to differ materially from those expressed or implied by the forward-looking statements.
You should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement (and such risks, uncertainties, and other factors) speak only as of the date on which it was originally made, and GLENTEL expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained in this document to reflect any change in expectations with regard to those statements or any other change in events, conditions or circumstances on which any such statement is based, except as required by law. New factors emerge from time to time, and it is not possible for GLENTEL to predict what factors will arise or when. In addition, GLENTEL cannot assess the impact of each factor on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
SOURCE: Glentel Inc.
For further information:
Investor Relations Contact
Jas Boparai, Chief Financial Officer
GLENTEL Inc.
604.415.6500
investors@glentel.com
Media Contact
Lois Grierson
GLENTEL Inc.
604.415.6534
lgrierson@glentel.com
For a copy of GLENTEL's annual report or for additional information visit www.glentel.com or www.sedar.com.
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