Telecom Corp. of New Zealand Ltd. has announced that Frank Mount, its CTO, has resigned. The resignation was accepted by Paul Reynolds and is effective immediately. The company also announced that CIO David Havercroft will assume the responsibility for all network and IT operations and CFO Russ Houlden will carry interim responsibility for Shared Services operations and Technology Strategy.

Telecom Corp. of New Zealand Ltd. announced an interim dividend of NZD 12 cents, unfranked, will be paid with record date February 26, 2010. The company is maintaining its guidance for adjusted EBITDA in fiscal 2010 to be between a contraction of 1% and growth of 2% compared with fiscal 2009. The company now expected to be in the lower half of the range, reflecting the impacts of the economic downturn and the XT mobile outage. Guidance for adjusted group net earnings is NZD 400 million to NZD 440 million for the year. The company also expected to be in the bottom half of the range and is subject to any changes in tax legislation.

Telecom Corp. of New Zealand Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2009. For the quarter, the company has posted adjusted revenue of NZD 1,315 million compared to NZD 1,407 million for the same period a year ago. Adjusted EBITDA was NZD 425 million compared to NZD 418 million for the same period a year ago. Adjusted EBIT was NZD 168 million compared to NZD 199 million for the same period a year ago. Adjusted net earnings attributable to shareholders was NZD 80 million or NZD 6 diluted per share compared to adjusted net earnings attributable to shareholders of NZD 105 million or NZD 6 diluted per share for the same period a year ago. For the six months, the company has posted revenue of NZD 2,671 million compared to NZD 2,858 million for the same period a year ago. EBITDA was NZD 872 million compared to NZD 783 million for the same period a year ago. EBIT was NZD 362 million compared to NZD 348 million for the same period a year ago. Net earnings attributable to shareholders were NZD 242 million or NZD 12 diluted per share compared to NZD 162 million or NZD 12 diluted per share for the same period a year ago. Adjusted revenue of NZD 2,671 million compared to NZD 2,858 million for the same period a year ago. Adjusted EBITDA was NZD 872 million compared to NZD 884 million for the same period a year ago. Adjusted EBIT was NZD 362 million compared to NZD 449 million for the same period a year ago. Adjusted net earnings attributable to shareholders was NZD 242 million or NZD 12 diluted per share compared to adjusted net earnings attributable to shareholders of NZD 253 million or NZD 12 diluted per share for the same period a year ago. Cash flows from operating activities was NZD 818 million compared to NZD 692 million for the same period a year ago.