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About Rogers Wireless: Rogers Wireless provides wireless voice and data communications services across Canada to more than 7 million customers under both the Rogers Wireless and Fido brands. Proven to operate Canada's most reliable wireless voice and data communications network, Rogers Wireless is Canada's largest wireless provider and the only carrier operating on the global standard GSM and highly advanced HSPA technology platforms. As well as providing seamless roaming in more than 200 countries around the world with its GSM based services, Rogers Wireless also provides wireless broadband services across Canada utilizing its 2.5GHz fixed wireless spectrum.

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Rogers Communications Q1 Profit Surges

Based communications and media company Rogers Communications, Inc. announced first quarter financial results, reporting a surge in profit primarily on higher revenue from the wireless and cable segments. Rogers Communications' first quarter net income surged to C$344 million or C$0.54 per share from C$170 million or C$0.26 per share in the prior-year quarter. Adjusted net income for the quarter was C$270 million or C$0.42 per share, up from C$186 million or C$0.29 per share in the year-ago quarter. On average, five analysts polled by First Call/Thomson Financial expected the company to earn $0.40 per share for the quarter. Operating revenues for the quarter increased to C$2.61 billion from C$2.30 billion in the same quarter a year ago. Three Wall Street analysts expected revenues of $2.62 billion for the quarter. On a segmental basis, wireless revenues were C$1.43 billion, up16% from C$1.23 billion in the previous-year quarter. Revenues from cable rose 8% to C$925 million from C$855 million in the earlier-year quarter. Rogers business solution posted revenues of C$133 million, compared to C$145 million in the same quarter a year ago. Revenues from Rogers retail segment improved to C$100 million from C$91 million in the prior-year quarter. Revenues from media were C$307 million, up from C$266 million in the same quarter last year. Operating profit for the quarter was C$1.10 billion, up from C$798 million in the comparable quarter last year. Operating income was recorded at C$208 million, compared to C$349 million in the same quarter last year. Depreciation and amortization for the quarter increased to C$440 million from C$400 million in the previous-year quarter. During the three months ended March 31, 2008, the Canadian dollar weakened by 3.98 cents versus the U.S. dollar. This resulted in a foreign exchange loss of C$7 million during the three months ended March 31, 2008. Interest expense decreased by C$11 million, compared to the corresponding period in 2007. The decrease in interest expense is primarily due to the C$433 million decrease in long-term debt at March 31, 2008 compared to March 31, 2007, including the impact of cross-currency interest rate exchange agreements. The company said it has no specific revisions to the 2008 annual financial and operating guidance ranges provided earlier.
 

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