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TELUS sets 2010 financial targets

^{Published on 2009-12-15 05:32:54 - Market Wire}
 

 ------------------------------------------------------------------------- Latest 2009 2010 Targets Guidance Change(1) ------------------------------------------------------------------------- Consolidated Revenues $9.8 to Approx. $10.1 billion $9.6 billion 2 to 5% EBITDA(2) $3.5 to Approx. $3.7 billion $3.475 billion 1 to 6% Earnings per share (reported)(3) $2.90 to $3.30 $3.10 to $3.30(3) (no change) (9) to 3% Capital expenditures Approx. Approx. $1.7 billion $2.1 billion (no change) (19)% Wireless Revenue (external) $4.95 to $4.675 to $5.1 billion $4.725 billion (no change) 5 to 9% EBITDA(2) $1.925 to $1.90 to $2.025 billion $1.95 billion (no change) flat to 5% Wireline Revenue (external) $4.85 to Approx. $5.0 billion $4.9 billion (1) to 2% EBITDA(2) $1.575 to Approx. $1.675 billion $1.55 billion 2 to 8% 1) Annual change based on low and high-end 2010 targets compared to midpoint of latest 2009 guidance. 2) Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) is defined as Operating revenues less Operations expense less restructuring and workforce reduction costs. Restructuring and workforce reduction costs are estimated at approximately $190 million in 2009, and approximately $75 million in 2010. 3) 2009 EPS includes estimated negative impact of approximately $0.21 per share in Q4, reflecting increased financing charges associated with the early partial redemption of U.S. dollar denominated 8% notes due June 1, 2011 largely offset by positive tax adjustments expected in Q4 2009 and $0.30 of positive tax adjustments recorded as of September 30. 

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