May 4, 2011 / 11:22 AM / 7 years ago

UPDATE 1-Manitoba Telecom Services Q1 rises on wireless strength

* Q1 EPS C$0.67 vs C$0.42 yr ago

* Q1 operating rev fall to C$439.3 mln (Follows alerts)

May 4 - Manitoba Telecom Services Inc’s (MTS) quarterly profit rose 58 percent, helped by strength in its wireless and broadband business.

First-quarter net income rose to C$43.4 million ($45.5 million), or 67 Canadian cents a share, from C$27.4 million, or 42 Canadian cents per share, a year ago.

Operating revenue fell marginally to C$439.3 million.

Analysts on average had expected MTS to earn 52 Canadian cents a share, on revenue of C$432.1 million, according to Thomson Reuters I/B/E/S.

MTS said wireless revenue rose 9.7 percent to C$84 million, while broadband and converged IP segment revenue was up 7.2 percent to C$47.7 million.

Shares of the company closed at C$30.82 on Tuesday on the Toronto Stock Exchange. ($1 = 0.953 Canadian Dollars) (Reporting by Abhiram Nandakumar in Bangalore; Editing by Don Sebastian)

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