Manitoba Telecom Services, Inc., Annual General Meeting, May 07, 2010 Location: Winnipeg, Manitoba, Canada.

Manitoba Telecom Services, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2009. For the quarter, the company reported operating revenues of CAD 452.7 million compared to CAD 463.9 million for the same period a year ago. Operating income was CAD 58.9 million compared to CAD 52.0 million for the same period a year ago. Income before income taxes was CAD 46.6 million compared to CAD 39.3 million for the same period a year ago. Net income and comprehensive income for the period was CAD 6.7 million compared to CAD 13.7 million for the same period a year ago. Net income was CAD 0.10 per share compared to CAD 0.21 per share for the same period a year ago. Cash flows from operating activities was CAD 39.4 million compared to CAD 168.6 million for the same period a year ago. Capital expenditures, net were CAD 93.0 million compared to CAD 90.8 million for the same period a year ago. EBITDA was CAD 146.3 million compared to CAD 158.3 million for the same period a year ago. For the year, the company reported operating revenues of CAD 1,809.9 million compared to CAD 1,867.1 million for the same period a year ago. Operating income was CAD 237.2 million compared to CAD 289.1 million for the same period a year ago. Income before income taxes was CAD 188.6 million compared to CAD 247.3 million for the same period a year ago. Net income and comprehensive income for the period was CAD 101.7 million compared to CAD 144.0 million for the same period a year ago. Net income was CAD 1.57 per share compared to CAD 2.23 per share for the same period a year ago. Cash flows from operating activities was CAD 263.8 million compared to CAD 533.8 million for the same period a year ago. Capital expenditures, net were CAD 295.2 million compared to CAD 335.4 million for the same period a year ago. EBITDA was CAD 625.1 million compared to CAD 666.4 million for the same period a year ago. These results reflect declines in the company's local, long distance, data and unified communications lines of business, which were partly offset by strong growth in wireless, consumer high-speed Internet, digital television and converged IP services. The company provides earnings guidance for the year 2010. The company expects revenues of CAD 1.780 billion to CAD 1.880 billion, EBITDA of CAD 585 million to CAD 635 million, EPS of CAD 2.00 to CAD 2.50, free cash flow of CAD 175 million to CAD 225 million. The Company expects total capital spending in 2010, excluding the HSPA network build in Manitoba, to be within 14% to 16% of its revenue range. The Company's Board of Directors declared a cash dividend of CAD 0.65 per share for the first quarter of 2010, which is payable on April 15, 2010 to shareholders of record on March 15, 2010. For 2010, the company expects to pay dividend of CAD 2.60 per share.

Manitoba Telecom Services, Inc. expected to Report Q1 2010 Results on May 3, 2010. This event was calculated by Capital IQ (Created on February 4, 2010).