TELUS Reports First Quarter 2011 Results
Strong 44% wireless data growth drives 3.7% wireless ARPU increase leading to Â
6.5% increase in consolidated revenue and 19% growth in earnings
Quarterly dividend increase of 4.8% to 55 cents per share
Announcing guidance of semi-annual dividend increases of circa 10%
annually to 2013
VANCOUVER, May 5 /PRNewswire-FirstCall/ – TELUS Corporation reported first quarter 2011
revenue of $2.5Â billion, an increase of 6.5 per cent. This increase was
generated by 11 per cent growth in wireless revenue and nearly two per
cent growth in wireline revenues, both driven by strong data revenue
growth.
The company added 52,000 new postpaid wireless subscribers, as
smartphone loading continued to accelerate, while prepaid subscribers
declined 20,000. As a result, wireless data revenue surged by 44 per
cent causing wireless average revenue per unit (ARPU) growth of 3.7 per
cent, the second consecutive quarter of year-over-year growth and the
highest since mid-2006. In wireline, the company added 44,000 TV
customers and 16,000 new high speed Internet subscribers due to the
bundling success of the Optik brand and services, which helped generate
wireline data service and equipment revenue growth of 11 per cent.
Consolidated first quarter earnings before interest, taxes, depreciation
and amortization (EBITDA) of $986 million increased by 4.6 per cent due
to the revenue growth, offset in part by costs to acquire and retain
wireless customers and support Optik TV subscriber growth.
Reported net income and earnings per share (EPS) for the first quarter
were $328 million and $1.01, representing year-over-year increases of
20 and 19 per cent, respectively. When excluding the four cent per
share after-tax gain from the acquisition of control of a contact
centre business, EPS increased by 14 per cent. EPS growth was higher
than EBITDA growth due to lower depreciation and financing costs this
quarter as compared to the year ago period.
Free cash flow this quarter decreased by $85 million due to the
voluntary $200 million contribution to pension plans and higher capital
expenditures, partially offset by lower cash taxes in 2011 and higher
EBITDA.
FINANCIAL HIGHLIGHTS
C$ and in millions, except per share amounts 3 months ended
March 31
(unaudited) 2011 2010 % Change
Operating revenues 2,531 2,377 6.5
Operating expenses before depreciation & 1,545 1,434 7.7
amortization
EBITDA(1) 986 943 4.6
Adjusted EBITDA(2) 970 943 2.9
Net income(3) 328 273 20.1
Earnings per share (EPS), basic(3) 1.01 0.85 18.8
Adjusted EPS(4) 0.97 0.85 14.1
Capital expenditures 409 311 31.5
Free cash flow(5) 162 247 (34.4)
Total customer connections (millions)(6) 12.3 11.9 3.5
(1) Earnings before interest, taxes, depreciation and amortization
(EBITDA). See Section 11.1 in the 2011 first quarter Management's
discussion and analysis (MD&A).
(2) Adjusted EBITDA excludes a $16 million non-cash gain on TELUS
increasing its ownership position to a 51% economic interest in
Transactel (Barbados), Inc., which operates call centres in Central
America. See section 2 in the 2011 first quarter MD&A for further
detail.
(3) Net income and EPS for the first quarter of 2011 includes the
after-tax Transactel gain of $12 million or 4 cents per share.
(4) Adjusted EPS for the first quarter of 2011 excludes the after-tax
Transactel gain of 4 cents per share.
(5) For definition, see Section 11.2 in 2011 first quarter MD&A.
(6) Sum of wireless subscribers, network access lines (NALs), total
Internet access subscribers, and TELUS TV subscribers (Optik TV and
satellite TV).
“These quarterly results demonstrate the success of TELUS’ strategy for
driving data growth in our wireless and wireline businesses and
providing a leading range of services and products for consumers and
businesses alike,” said Darren Entwistle, TELUS President and CEO.
“Underpinned by our strategic network investments and TELUS’ continued
momentum in the market, we are generating accelerating sales of
smartphones and continued strong Optik TV and High Speed Internet
sales. This momentum drove 44 per cent revenue growth in wireless data
and 11 per cent growth in wireline data.”
“Based on our positive financial outlook and aligned with our dividend
growth model, TELUS is pleased to increase the quarterly dividend by
2.5 cents or almost five per cent to 55 cents, which is the third
increase in the past 12 months”, noted Mr. Entwistle. “This reflects
our continued confidence in our prospects for earnings and cash flow
growth in 2011 and beyond.”
“I am also pleased to report that after conferring with the Board, we
are providing shareholders with additional clarity on our intentions
regarding TELUS’ dividend growth model,” said Darren Entwistle.
“Specifically, TELUS is targeting two dividend increases per year to
2013 in the range of circa 10 per cent annually. Notwithstanding this,
dividend decisions will continue to be subject to the Board’s
assessment and determination of the Company’s financial condition and
outlook on a quarterly basis.”
“TELUS’ strong operational performance, declining interest expense and
robust financial position allows us to fund ongoing strategic capital
investments, the dividend increase and in the first quarter a voluntary
$200 million pension contribution,” said Robert McFarlane, TELUS
Executive Vice-President and CFO. “We continue to consider the
interests of both equity and debt holders by adhering to our long-term
financial policies including our dividend payout ratio guideline and
debt leverage policy.”
The consolidated and segmented annual guidance for 2011 has been
reaffirmed. See section 9 of the first quarter 2011 MD&A.
_____________________________________________________________________
|This news release contains statements about expected future events |
|and financial and operating performance of TELUS that are |
|forward-looking. By their nature, forward-looking statements require |
|the Company to make assumptions and predictions and are subject to |
|inherent risks and uncertainties. There is significant risk that the |
|forward-looking statements will not prove to be accurate. Readers are|
|cautioned not to place undue reliance on forward-looking statements |
|as a number of factors could cause actual future performance and |
|events to differ materially from that expressed in the |
|forward-looking statements. Accordingly this news release is subject |
|to the disclaimer and qualified by the assumptions (including |
|assumptions for 2011 annual guidance, qualifications and risk factors|
|(including those for semi-annualdividendincreasesto 2013)referred to |
|in the Management's discussion and analysis (MD&A) in the 2010 annual|
|report, and in the 2011 first quarter report. Except as required by |
|law, TELUS disclaims any intention or obligation to update or |
|revise forward-looking statements, and reserves the right to change, |
|at any time at its sole discretion, its current practice of updating |
|annual targets and guidance. |
|_____________________________________________________________________|
OPERATING HIGHLIGHTSÂ
TELUS wireless
-- External wireless revenues increased by $131 million or 11% to
$1.31 billion in the first quarter of 2011, compared to the
same period a year ago, driven by the combined impact of a 6.5%
increase in the subscriber base and higher revenue per
customer.
-- Data revenue growth accelerated this quarter, increasing by
$112 million or 44% to $366 million, while data ARPU increased
by $4.57 or 35% to $17.71. These increases were due to
accelerated adoption of smartphones, growth of mobile Internet
devices and tablets and the use of related data plans and
applications, as well as higher roaming revenues.
-- Blended ARPU per month increased by 3.7% to $57.89. This is the
second consecutive quarter of year-over-year growth in
quarterly ARPU and the highest since mid-2006. Data ARPU growth
of 35% exceeded the voice ARPU decline of 5.8%.
-- Postpaid subscriber growth this quarter of 52,000 was offset by
20,000 prepaid losses. Net subscriber additions of 32,000
declined by 37%from a year ago, reflecting the loss of a
federal wireless service contract to a competitor
(approximately 16,000 postpaid subscribers in the quarter), as
well as increased competitive marketing intensity from new
entrants and new incumbent brands not in, or fully in, the
market one year ago.
-- Smartphones represented 54% of postpaid gross additions in the
first quarter, as compared to 33% in the same period last year.
Smartphone subscribers now represent 38% of total postpaid
subscribers compared to 22% a year ago.
-- Cost of acquisition per gross addition increased year over year
by 8% to $348, reflecting the higher per-unit subsidy from more
smartphones sales.
-- Cost of retention of $147 million increased by 20%, primarily
reflecting higher retention volumes and equipment subsidy costs
from increased migrations to higher cost smartphones, partly
offset by revenues from the recently launched Clear and Simple
Device Upgrade program.
-- Blended monthly subscriber churn increased by 15 basis points
to 1.70%, reflecting the loss of the federal contract, an
increased number of competitors as compared a year ago and more
price-based promotions in the market.
-- Wireless EBITDA of $551 million increased by $56 million or 11%
due to 6.5% subscriber growth and increased network revenues,
while maintaining stable EBITDA margins of 41.8%.
-- Simple cash flow (EBITDA less capital expenditures) increased
by $39 million to $475 million in the quarter due to strong
EBITDA growth partially offset by increased capital spending.
TELUS wireline
-- External wireline revenues increased by $23 million or 2% to
$1.22 billion in the first quarter of 2011, when compared with
the same period in 2010, driven by growth in data revenues, as
well as a non-cash gain from the call centre acquisition
partially offsetting continued declines in traditional voice
local and long-distance revenues.
-- Data revenues increased by $61 million or 11%, reflecting
growth in Internet and enhanced data services, strong TELUS TV
growth, increased data equipment sales and rentals, and two
months of consolidated revenues from Transactel.
-- TELUS TV net additions of 44,000 increased by 52% over the same
period last year, due to the ongoing success of the Optik TV
brand, increased installation capabilities, enhanced features,
and expanded service coverage. The TELUS TV subscriber base of
358,000 is up 80% over last year.
-- Optik High Speed Internet net additions of 16,000 increased by
13,000 from a year ago due to the pull through effect of Optik
TV sales, as well as continued broadband service expansion.
-- Total network access lines (NALs) declined 5.1% to 3.7 million
from a year ago due to competition and wireless substitution.
Residential NAL losses of 33,000 were 17,000 lower than a year
ago, reflecting the pull through effect of bundling offers with
Optik services. Business NALs increased by 2,000 reflecting
increased wholesale lines, partially offset by competition in
the small and medium business market.
-- Wireline EBITDA of $435 million decreased by $13 million or
2.9% due to increased costs associated with the expansion of
Optik services and external labour costs to support a larger
customer base, while wireline EBITDA last year included
one-time benefits totaling $10 million. EBITDA adjusted for the
$16 million non-cash gain on Transactel decreased by 6.5% to
$419 million.
-- Adjusted simple cash flow decreased by $110 million to
$86 million due to an $81million increase in capital spending
and lower adjusted EBITDA.
CORPORATE AND BUSINESS DEVELOPMENTS
TELUS and TWU reach agreement in principle
In April, TELUS and the Telecommunications Workers Union (TWU) agreed to
the terms of a tentative collective agreement, covering approximately
11,200 active TELUS employees nationally. The agreement is to be
presented to the TWU membership for a ratification vote, with a
recommendation of acceptance by the TWU. The ratification vote is
expected to be complete in June 2011. The terms of the previous
collective agreement remain in effect until the new terms have been
ratified.
Highlights of the five-year tentative agreement to December 31, 2015,
include wage increases of 1.5 per cent on July 1, 2011, 2.0 per cent on
July 1, 2012, 2013 and 2014, and 2.5 per cent on July 1, 2015. On
ratification, lump sum payments of $400 for full-time employees and
$200 for part-time employees are payable. A potential cost of living
adjustment for inflation of up to 1% could be payable on January 1,
2015.
TELUS investing in next generation wireless networks
Following a network enhancement, in March 2011 TELUS began offering
services on dual-cell technology (DC-HSPA+) on its national 4G wireless
HSPA+ network in select cities across Canada. DC-HSPA+ enables
manufacturer-rated peak data download speeds of up to 42 megabits per
second (Mbps)*. Dual-cell capable devices available to TELUS’ customers
include the Sierra Wireless AirCard 319U 4G Internet Key and the Huawei
E372 Mobile Internet Key. TELUS’ investment in HSPA+ technologies have
been made to provide an optimal transition to long-term evolution (LTE)
technology.
In April, TELUS announced plans to launch its next generation wireless
4G+ LTE network in 2012. LTE technology supports manufacturer-rated
peak download speeds of up to 150 Mbps and upload speeds of up to 70
Mbps*. This initiative is the latest technology evolution in the
wireless network upgrade path made possible by the launch in 2009 of
Canada’s fastest** coast-to-coast HSPA+ wireless network, that today
covers more than 95 per cent of the Canadian population. Construction
on TELUS’ next generation, 4G+ LTE network will begin in the latter
half of 2011 in major urban markets. TELUS’ LTE network will operate on
the Advanced Wireless Services (AWS) spectrum that TELUS purchased for
$882 million in Industry Canada’s spectrum auction in 2008.
The launch of 4G+ over AWS spectrum is the first stage in the upgrade to
LTE. While services expected to be offered in 2012 will begin the
evolution to LTE in major urban centres, the potential rollout into
rural Canada will be dependent on TELUS having an equitable opportunity
to bid and acquire 700 MHZ spectrum in the Industry Canada auction
expected in late 2012.
A LTE rollout across Canada would allow TELUS to play a leading role in
bridging the digital divide between urban and rural Canada such that
Canadians can benefit from broadband wireless LTE technology. TELUS
believes the magnitude of this rural build can only be realized with a
wireless provider of TELUS’ scale, operational capabilities and
geographic reach and excellent track record of delivering successive
technology platforms to Canadians throughout the country.
The investment in the 4G+ LTE urban build is consistent with TELUS’
consolidated capital expenditure targets for 2011.
TELUS expands Optik TV footprint, introduces new channels and a Facebook
application
TELUS continued its expansion of Optik TV in the quarter, adding 44,000
new customers, introducing the service in Quebec, adding new South
Asian channels, and launching new services including providing
customers’ access to Facebook on their TVs. Facebook on Optik TV is a
first in Canada, enabling customers to view Facebook photographs in
large format on their screen, share what they are watching on their
Facebook wall, and browse through updates while watching their
favourite TV shows. TELUS added 11 new South Asian channels, expanding
the Optik TV South Asian line-up to 19 channels, which is the largest
selection available from any service provider in Western Canada. These
channels offer programming in languages including Hindi, Punjabi, Urdu,
Tamil, and English.
In the quarter, TELUS announced it is hiring 250 new customer care
agents and technicians in Calgary, 100 new customer care agents in
Prince George, and 70 new team members in Quebec. These positions will
support growth services including the expansion of Optik TV.
TELUS Garden future real estate development in Vancouver
In March, TELUS announced that it is partnering with Westbank, a leading
developer, and engaged Henriquez Partners, as the architect, in a
residential, retail and commercial real estate redevelopment project in
downtown Vancouver, called TELUS Garden, which will transform a city
block that includes the Company’s current national headquarters. The
commercial and residential buildings will be built to Leadership in
Energy and Environmental Design (LEED) Platinum and Gold standards,
respectively, and incorporate green initiatives that are expected to
reduce energy consumption.
Pending zoning approval and finalization of agreements, construction is
expected to begin in the fall of 2011 and be completed in 2015. TELUS
plans to invest in the project predominantly through contribution of
its existing real estate holdings on this city block, coupled with
project debt. The project includes assembling third party real estate
on the city block with TELUS-owned real estate and building on them a
residential tower, an office tower and renovating TELUS’ current
eight-storey headquarters into leasable office and retail space. TELUS
plans to lease space in the new office tower. This project is an
opportunity for TELUS to monetize a portion of its real estate
holdings. The Company does not plan on maintaining an ownership
position in the residential tower aside from some retail space after
the construction and sale of condominium units.
TELUS introduces Canada’s Fastest Smartphone, Samsung Galaxy S Fascinate
4G
TELUS launched many highly anticipated devices in the first part of
2011, including Canada’s first 4G smartphone, the Samsung Galaxy S
Fascinate 4G with manufacturer-rated peak data download speeds of up to
21 megabits per second (Mbps)*. The Samsung Galaxy S Fascinate 4G is
available only at TELUS and has a manufacturer rated peak download
speed that is approximately 50 per cent faster than the manufacturer
rated speed of any other smartphone in Canada, allowing users to
download, browse and stream video faster than ever before.
Other recently launched devices include the HTC HD Desire, the rugged
Motorola Defy with MOTOBLUR, the Samsung Nexus S, the Motorola Xoom
tablet, and in April Research in Motion’s Playbook tablet.
TELUS’ Health Vault expands its reach, partnering with electronic health
record providers
TELUS announced another milestone in its commitment to help evolve
healthcare in Canada, signing agreements with three leading electronic
medical record (EMR) providers in British Columbia, Alberta, Ontario
and Québec to connect their solutions to the TELUS health space
platform. With the integration of EMRs, patients and service providers
are able to securely access and share health information electronically
over any Internet connection from any location and at any time.
TELUS also launched bant, an iPhone based application to help adolescents improve diabetes
self-management by capturing, analyzing, and sharing their blood
glucose data. The new app is being tested by teenagers at The Hospital
for Sick Children Diabetes Clinic in Toronto. The pilot program is
assessing the impact that social networking and rewards that encourage
and reinforce self-management behaviours for young teens as they become
more independent in managing their diabetes.
TELUS achieves milestone in providing credit card security for customers
TELUS recently achieved a key milestone in keeping its customers’ credit
card information secure. In March, the Payment Card Industry (PCI), an
association to which credit card companies Visa, MasterCard and
American Express belong, certified TELUS for having met or exceeded all
of the control standards specified in the association’s global best
practices guidelines. Companies such as TELUS, who process a high
volume of credit card transactions, are required to meet these rigorous
standards.
This achievement concludes a five-year cross-company initiative to
systematically assess and enhance internal controls and data security
over all aspects of our customer credit card processing and data. More
than 100 applications were upgraded to meet stringent standards
recognized as global best practices.
TELUS CEO Darren Entwistle receives Canadian Business Leader Award
TELUS President and CEO Darren Entwistle received the University of
Alberta’s 30(th) Canadian Business Leader Award (CBLA)Â in March. Since 1982, recipients
of the CBLA have been leaders, entrepreneurs, and pioneers of progress
in the business world. They are recognized for their outstanding
achievements and business acumen, and are selected by the 34-member
international Business Advisory Council of the Alberta School of
Business at the University of Alberta.
TELUS CFO Robert McFarlane recognized with Kathleen Beaumont Hill Award
Robert McFarlane, TELUS’ chief financial officer, was recognized in
April with the 2011 Kathleen Beaumont Hill Award from Queen’s
University for his outstanding service and advocacy that have
contributed to the country’s continued prosperity and growth in
business, education and community development. This award celebrates
the dedication and generosity of Queen’s alumna Kathleen (Beaumont)
Hill to her alma mater and community for more than 50 years. This award was created in 2009 by Queen’s University and is presented annually to
the individual who best exemplifies her outstanding service, passionate
advocacy, dedicated support, and contributions to the betterment of
Queen’s University and Canada.
TELUS and Alberta School of Business establish Westbury Family Awards in
Philanthropy
In March, TELUS and the Alberta School of Business announced the
establishment of the Westbury Family Awards in Philanthropy. The award
is named in honour of Dr. Bob and Marilyn Westbury and their family,
recognizing their contribution to encouraging and supporting
philanthropy in building communities in Edmonton and across Canada.
TELUS and members of the Edmonton business community donated $150,000
to create the award.
Two Westbury Family Awards in Philanthropy will be distributed each
year. The first award will be bestowed upon an undergraduate in their
third or fourth year at the Alberta School of Business at the
University of Alberta who has a demonstrated interest in activities
that help build their communities through philanthropic means. The
second award will be granted to an individual from the non-profit
sector who is returning to school to acquire business management
skills. This award will be open to both full and part time students of
the Alberta School of Business Master of Business Administration (MBA)
and Executive MBA programs.
TELUS named one of the Best Employers for New Canadians
In March, TELUS was named one of the Best Employers for New Canadians in
an annual competition that recognizes the nation’s leaders in assisting
recent immigrants make the transition to a new workplace and life in
Canada. This year’s list paid tribute to 40 organizations. Launched in
2007, the Best Employers for New Canadians competition is managed by
the editors of Canada’s Top 100 Employers in partnership with ALLIES, a
joint initiative of The Maytree Foundation and the J.W. McConnell
Family Foundation.
TELUS introduces tenth Community Board in Quebec City
TELUS created its tenth TELUS Community Board in Quebec City, which is
managing an annual budget of $400,000 to support local charitable
projects that help local grassroots charities and non-profit
organizations. The Community Board will be chaired by Marc Coulombe,
president and director of Alex Coulombe Ltd. and a well-known Quebec
City philanthropist. Other influential business and community leaders
on the board include Jacques Tanguay, vice-president and CEO of
Ameublement Tanguay, Denis Brière, rector of Université Laval, and
Pierre Harvey, Olympic medallist and engineer with Services Precicad.
Since the first TELUS Community Board was launched in 2005, these
innovative boards have allocated $25 million to local charities and
non-profit organizations and supported 1,800 community projects across
Canada. The other boards are in Victoria, Vancouver, Edmonton,
Calgary, Toronto, Ottawa, Montreal, Rimouski and Atlantic Canada.
TELUS supports local programs and charities through Optik TV and
smartphone sales
In select markets across Canada, TELUS is donating $100 towards a local
charity on behalf of every customer who signs up for Optik TV. Local
charities being supported include the Rotary Park’s new family splash
park in Whitecourt, Alberta, the David Foster Foundation in Victoria,
B.C. and the expansion of Kelowna General Hospital in Kelowna.
In addition, for a limited time, TELUS customers can support worthy
causes when they upgrade to a new smartphone from TELUS in select
markets. Charities being supported with donations on behalf of new
customers include $100 to Edmonton’s Campaign for Prostate Health; $25
to the Saskatchewan Cancer Agency to support Saskatchewan’s children
and youth in their fight against cancer; and $25 to CancerCare Manitoba
for the diagnosis and treatment of cancer in children. For a second
year in a row, TELUS will support Opération Enfant Soleil, donating $25
for every wireless device or Internet key sold in Quebec between March
15 and May 15. The money raised will support development of pediatric
care for children in Quebec.
TELUS and its team members support relief efforts in Japan
When disaster struck in Japan on March 11, TELUS immediately offered its
support towards the relief efforts. TELUS offered customers free long
distance calls to Japan until April 30 on their wireless devices and
home phones. TELUS also made TV Japan available on a free preview
channel for TELUS Optik TV customers, so they could stay up-to-date on
news and information from Japan. Additionally, TELUS and its team
members are donating $100,000 to the Red Cross, Salvation Army and
UNICEF to assist in the earthquake relief efforts in Japan. TELUS will
also match funds raised by its own team members in Canada.
TELUS customers can also be a part of the relief efforts and donate
funds through text to donate on their mobile devices:
-- text "QUAKE" to 45678 to donate $10 to The Salvation Army in
Canada
-- text "ASIA" to 30333 to donate $5 to The Canadian Red Cross
Society
-- text "GIVE" to 45678 to donate $5 to UNICEF
TELUS has a history of stepping up to help when disasters strike. Since
2000, TELUS has donated more than $1 million to Canadian registered
charities in support of humanitarian relief efforts in Haiti, Chile,
Philippines, Newfoundland, and Kelowna, British Columbia.
Dividend Declaration and announcement on TELUS dividend growth model to 2013
The Board of Directors has declared a quarterly dividend of 55 cents
($0.55) Canadian per share on the issued and outstanding Common shares
and 55 cents ($0.55) Canadian per share on the issued and outstanding
Non-Voting shares of the Company payable on July 4, 2011 to holders of
record at the close of business on June 10, 2011.
This quarterly dividend represents a 2.5 cent or 4.8 per cent increase
from the $0.525 quarterly dividends paid on January 4 and April 1, 2011
and a five cent or 10 per cent increase from the fifty cents paid a
year earlier on July 2, 2010.
TELUS is providing shareholders with additional clarity on its
intentions regarding TELUS’ dividend growth model. Specifically, the
Company plans to continue with two dividend increases per year to 2013,
normally declared in May and November, and expects the increase to be
in the range of circa 10 per cent annually. Notwithstanding this,
dividend decisions will continue to be subject to the Board’s
assessment and determination of the Company’s financial situation and
outlook on a quarterly basis.
* Speed may vary due to channel size, the device being used, network
congestion, distance from the cell site, local conditions and other
factors.
** Based on TELUS’ tests of data throughput speeds in large Canadian
urban centres available from national HSPA+ service providers. Internet
access speed provided by the network operator may vary due to the
device being used, network congestion, distance from the cell site,
local conditions and other factors. Speed on the Internet is beyond the
wireless network operator’s control and may vary with your
configuration, internet traffic, website server and management
policies, and other factors.
Access to Quarterly results information
Interested investors, the media and others may review this quarterly
earnings news release, management’s discussion and analysis, quarterly
results slides, audio and transcript of investor webcast call,
supplementary financial information and our full 2010 annual report on
our website at telus.com/investors.
Full quarterly earnings release available at: http://www.newswire.ca/en/releases/archive/May2011/05/c8509.html
TELUS first quarter conference call is scheduled for May 5, 2011 at 3:00 pm ET and will feature a presentation about our first quarter results
followed by a question and answer period with analysts. Interested
parties can access the webcast at: telus.com/investors. Also, a recording will be available on May 5 until May 15, 2011 at:
telus.com/investors or by telephone (1-403-699-1055 or 1-877-353-9587,
reservation no. 541096#). A transcript will be posted on the website
within several business days.
About TELUS
TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications
company in Canada, with $9.9 billion of annual revenue and 12.3 million
customer connections including 7 million wireless subscribers, 3.7
million wireline network access lines and 1.2 million Internet
subscribers and more than 350,000 TELUS TV customers. Led since 2000 by
President and CEO, Darren Entwistle, TELUS provides a wide range of
communications products and services including data, Internet protocol
(IP), voice, entertainment and video.
In support of our philosophy to give where we live, TELUS, our team
members and retirees will, by year-end 2011, have contributed $245
million to charitable and not-for-profit organizations and volunteered
4.1 million hours of service to local communities since 2000. Ten TELUS
Community Boards across Canada lead TELUS’ local philanthropic
initiatives. TELUS was honoured to be named the most outstanding
philanthropic corporation globally for 2010 by the Association of
Fundraising Professionals, becoming the first Canadian company to
receive this prestigious international recognition.
For more information about TELUS, please visit telus.com.
SOURCE TELUS Corporation