February 4, 2010 / 9:36 PM / 8 years ago

UPDATE 1-Manitoba Telecom profit falls sharply, sales down

* Q4 net EPS C$0.10 vs C$0.21 year earlier

* Revenue down 2.4 pct at C$452.7

* Sees 2010 EPS of C$2-C$2.50 a share

OTTAWA, Feb 4 (Reuters) - Canada’s Manitoba Telecom Services MBT.TO reported a sharp drop in fourth-quarter net profit on Thursday, reflecting non-operating issues, such as charges associated with tax adjustments.

The regional communications company said profit declined to C$6.7 million ($6.2 million), or 10 Canadian cents a share, from C$13.7 million, or 21 Canadian cents, in the same period last year.

Earnings from continuing operations declined to 59 Canadian cents a share from 61 Canadian cents.

Revenue was 2.4 percent lower at C$452.7 million.

EBITDA fell 7.6 percent to C$146.3 million.

For 2010, it forecasts earnings per share between C$2 and C$2.50 on revenue from continuing operations of C$1.78 billion to C$1.88 billion. It expects EBITDA of C$585 million to C$635 million, a dividend of C$2.60, and capital spending at 14 percent to 16 percent of revenue. ($1=$1.07 Canadian) (Reporting by Susan Taylor)

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