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December 16, 2002 — (WEB HOST INDUSTRY REVIEW) — Communications company Telus Corporation (TELUS.com) announced on Monday that it has updated its guidance for 2002 and 2003 financial targets to reflect the ongoing execution of the company’s strategy for wireless, data and IP growth.
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“TELUS continues to execute well towards its 2002 financial and operating targets,” said Robert McFarlane, executive vice president and CFO. “Today we have revised favorably our expectations for year-end 2002 results. The improved 2002 outlook for profitability and cash flow reflects continued stronger than expected wireless results as well as accelerated operational efficiency traction in wireline operations and improved non-incumbent profit margins in Central Canada. The positive outlook suggests TELUS could be notable amongst its peers in the North American telecom industry for exceeding its original profitability targets for 2002 despite incurring significant negative regulatory impacts.”
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TELUS says its updated 2002 guidance for revenue was approximately $7 billion, EBITDA was $2.5 billion and per share was at a loss of 75 cents. Targets for 2003 included revenues of $7.2 billion to $7.3 billion, an improvement of 3 to 4 percent; EBITDA of $2.7 billion to $2.8 billion, an improvement of 8 to 12 percent; and earnings per share of 35 to 55 cents, an improvement of $1.10 to $1.30.
