Bell Aliant profit falls on restructuring charge
(Reuters) - Canadian telecom services provider Bell Aliant Inc BA.TO posted a 12 percent fall in fourth-quarter profit as it took a restructuring charge, and said it plans lower capital expenditure this year.
Bell Aliant shares were up about 2 percent at C$26.05 in early trade on the Toronto Stock Exchange on Tuesday.
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.
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.
The company, a unit of BCE Inc (BCE.TO: Quote) - Canada's biggest telecom company, forecast adjusted per-share earnings of C$1.45 to C$1.75 for 2013, compared with the C$1.63 per share it earned on an adjusted basis in 2012.
Bell Aliant, which reported operating revenue of C$2.76 billion in 2012, said it expects the figure this year to range between C$2.73 billion and C$2.81 billion.
The company also said it plans capital expenditure of C$525 million to C$575 million this year, down from the C$592 million it spent in 2012. The number is lower as it will not have to take non-recurring startup costs related to hanging fiber to home in central Canada, CEO Karen Sherriff said on a conference call.
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.
(Reporting by Maneesha Tiwari in Bangalore; Editing by Sreejiraj Eluvangal)
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