Canada's Telus 2009 revenue forecasts don't look all that pretty. Canada's second largest service provider said that revenue will come in the lower end of its guidance range of about $9.04 billion.
Contributing to Telus' revenue decline is a $28.3 million increase in Q4 restructuring costs. For 2009, Telus increased its restructuring cost estimates from $150 million to $178 million as it implements new service initiatives in wireless and broadband next year.
However, Telus believes that the investment in these initiatives will increase its cash flow by more than 40 percent.
"We expect the significant on-strategy investments made in our wireless and wireline broadband networks will generate solid results in 2010," Darren Entwistle, Telus president and chief executive, said in a statement.
- Reuters has this article
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