TELUS reported for the third quarter of 2006 a seven per cent increase in revenues to $2.2 billion from a year ago due to continued strong wireless and data growth. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 13% due to strong wireless and wireline growth, aided by higher 2005 expenses due to the labour disruption. Earnings per share (EPS) for the third quarter were 94 cents, compared to 53 cents for the same period a year ago. EPS this quarter included favourable tax related adjustments of 9 cents per share. When normalizing for tax and the labour disruption impacts from 2005, EPS this quarter increased 42% due primarily to EBITDA growth lower depreciation and lower financing costs. The quarterly dividend was increased by 10 cents to 37.5 cents payable on January 1, 2007.

No comment right now on how the impact the latest trust fund decision by the federal government will affect the bottom line.

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