TELUS Corp. Confirms FY15 Outlook, Sees Reduction In 1500 Positions

(RTTNews) - Canada's national telecommunications company TELUS Corp. (TU) Thursday reported 2.8 increase in third quarter net income, while adjusted earnings per share was up 3.1 percent from the prior year.

The company sees net reduction of 1500 full time positions, that includes voluntary departure and early retirements, as it increased efficiency initiatives by C$125 million in the fourth quarter.

Looking ahead, the company continues to expect full year 2015 earnings per share, excluding items, in a range of C$2.40 to C$2.60. Adjusted EBITDA is confirmed in a range of C$4.4 billion to C$4.575 billion.

On average, 9 analysts polled by Thomson Reuters expected the company to earn C$2.47 per share. For the full year. Analysts estimates usually exclude special items.

For the third quarter, the company reported net income of $365 million, up from C$355 million in the previous year. On a per share basis, earnings climbed 5.2 percent to C$0.61 from C$0.58 in the prior year. Wall Street expected $0.63 per share on revenue of $3.16 billion.

Revenue for the quarter rose to C$3.155 billion from C$3.028 billion in the prior year.