TELUS to increase 2010 wireless results by 9%?

teluslogoTELUS has released their forecast for 2010 and it’s looking like friendly and very promising. The report says the wireless revenue will grow 5-9% with total revenues hitting between Wireless $4.95 to $5.1 billion. Very nice numbers and not a hint of being hit with competition. It looks like they’ll release even more smartphones in 2010, but the only downside is that they will continue restructuring their employees to a tune of $75 million.

Here are some takeaway quotes:

“TELUS wireless revenue is forecast to increase five to nine per cent in 2010 largely dependent on the extent of growth in wireless subscriber loading and the extent of ARPU erosion. Growth in wireless loading is expected to benefit from an increase in industry growth with a penetration gain of approximately four per cent. TELUS will benefit from a full year effect of our new 3G+ network, increased data and roaming revenues helping offset continued declines in voice ARPU and the effects of new competitive entry.”

“For 2010 target purposes, a number of assumptions were made including: ongoing wireline and wireless competition in both business and consumer markets; wireless industry market penetration gain of approximately four percentage points; increased wireless subscriber loading in smartphones; reduced downward pressure on wireless average revenue per unit; new competitive wireless entry in early 2010… approximately $75 million of restructuring and workforce reduction expenses”

Darren Entwistle, TELUS president and CEO stated “We expect the significant on-strategy investments made in our wireless and wireline broadband networks will generate solid results in 2010… Our strong lineup of smartphones running on our new 3G+ wireless network, coupled with our clear and simple wireless rate plans, create opportunities for growth in the Canadian market in 2010 and beyond.”