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Bell Aliant profit falls following early debt redemption

Bell Aliant shows the Facebook App on FibreOP TV

BELL ALIANT

Bell Aliant Inc. is reporting net earnings of $67-million for the second quarter, or 29 cents per share.

That's down $8-million, or four cents per share, from the same period last year, the telecommunications company said Friday.

The company – which provides phone, Internet and TV services in Atlantic Canada and other parts of the company through its subsidiaries – says the decline was primarily due to an early redemption penalty on long-term debt refinanced in June 2013.

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Bell Aliant says the refinancing will result in lower interest costs going forward.

Its adjusted earnings per share, which excludes this penalty and other adjustments, was 39 cents, down two cents from the same quarter in 2012.

Bell Aliant`s operating revenues of $692-million in the second quarter of 2013 was $4-million higher than the same quarter in 2012, with growth in TV, Internet, other revenues offsetting declines in local and long distance revenues.

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