MTS 2009 results: 458,478 wireless subscribers, up by 5.5%

MTS is getting ready to roll out their HSPA network that they are targeting a late 2010 completion, in the meantime they have reported their 2009 results and now have 458,478 wireless subscribers, up by 5.5% from last year. In addition, wireless revenues increased by $3.9 million in Q4 for a total yearly revenue of $312.9 million (up by $23.2 million from last year). MTS is also reporting that their average revenue per user (“ARPU”) is $57.03, which has decreased by 0.6% or $0.37.

The report states “We continue to see strong growth potential for our wireless services in Manitoba… at the end of the fourth quarter of 2009, wireless penetration in Manitoba was approximately 65% as compared to our estimate of the Canadian penetration rate of approximately 67%.”

On the downside, MTS says “Building on the considerable progress we made in 2009 improving our cost structure, we are targeting an additional $30 million to $40 million in 2010 in annualized cost reductions through operational efficiency and restructuring. We estimate our restructuring costs associated with these initiatives to be between $35 million and $45 million.”