Bell Aliant (TSE:BA) Tuesday grew third-quarter revenue by just over 21 per cent as the Maritimes-focused telecoms provider continued to expand its network for high-speed Internet and Internet Protocol TV services.
The company said net profit increased to $92 million, compared with a net profit of $76 million in the same quarter last year due to lower restructuring charges. Earnings per share were 40 cents and adjusted earnings per share were 47 cents.
Revenues dipped slightly to $697 million, down by three million from the same quarter in 2011.
Analysts expected adjusted earnings was 45 cents per share on revenue of $692.77 million, acording to Thomson Reuters.
"We now have over 100,000 IPTV customers and IPTV was our largest area of revenue growth in the quarter," Aliant president and CEO Karen Sheriff said.
"We also had strong Internet revenue growth and our NAS declines again were better than the same quarter last year, following the trends we have experienced in prior quarters of 2012.
"We have been adding more FibreOP customers with each passing quarter, and with more than half of the homes in Atlantic Canada now having access to these services, we are beginning to have sufficient FibreOP scale to make a difference in our overall results.
"While we expect 650,000 premises to have access to our FibreOP services by the end of this year, we will still have more to do. I expect to announce our plan for further expansion in early 2013."
Bell Aliant said it has more than 100,000 IPTV customers, the company's largest area of revenue growth in the quarter.
Total data revenue, including Internet and TV, increased $21 million, or 9.6 per cent, in the third quarter of 2012.
Bell Aliant provides telephone, Internet, television and other services to customers in Canada's six most eastern provinces and is partly owned by Canadian media and telecoms gBCE (TSE:BCE).
The company declared a quarterly dividend of $0.4750 per common share payable on December 31, 2012 to shareholders of record at the close of business on December 14, 2012.