Bell Aliant profit falls on restructuring charge
(Reuters) - Canadian telecom services provider Bell Aliant Inc (BA.TO: Quote) posted a 12 percent fall in fourth-quarter profit as it took a restructuring charge.
Net income fell to C$70.3 million ($70.38 million), or 31 Canadian cents per share, from C$80 million, or 35 Canadian cents per share, a year earlier.
On an adjusted basis, the company earned 37 Canadian cents per share. Analysts were expecting a first-quarter profit of 41 Canadian cents per share, according to Thomson Reuters I/B/E/S.
Bell Aliant, which provides the FibreOP fibre-to-the-home (FTTH) services, said operating revenue fell 0.8 percent to C$694.8 million due to a decline in local and long distance revenues. Analysts were looking for C$697.1 million.
Local service revenue fell 4.8 percent to C$288.9 million. Long distance revenue was down 11.6 percent at C$79.2 million.
The company forecast capital expenditure of C$525 million to C$575 million for 2013. It had capital expenditure of C$592 million in 2012.
Bell Aliant shares, which have lost 8 percent of their value over the past 12 months, closed at C$25.55 on the Toronto Stock Exchange on Monday.
(Reporting by Maneesha Tiwari in Bangalore; Editing by Sreejiraj Eluvangal)
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