Investor Relations

Annual Meeting
 
The Company's annual meeting will be held on Wednesday, May 2nd, 2012 at 9:00 a.m. at the Pan Pacific Hotel, Vancouver, BC, Canada.
 
Overview
 

About GLENTEL
GLENTEL (TSX: GLN) is the largest multi-carrier mobile phone retailer in Canada and a leading provider of innovative and reliable telecommunications services and solutions in North America. The company operates more than 325 locations across Canada located in retail malls, Costco Wholesale stores, and business centers, as well as more than 195 mall-based retail stores across 15 states in the United States. GLENTEL offers a choice of network carrier and wireless device or phone to Canadian consumers and is a Verizon National Premium Retailer in the U.S. To its business and government customers, GLENTEL offers wireless service, rental equipment, satellite and terrestrial network systems, tower sites, and wireless asset monitoring. GLENTEL operates its business under the trading names Glentel Wireless, WIRELESSWAVE, WAVE SANS FIL, Tbooth wireless, la cabine T sans fil, WIRELESS etc., WAVE SANS FIL etc., Mac Station - an Apple Specialist, and Diamond Wireless - Verizon National Premium Retailer in the U.S.

2011 Consolidated highlights
 

4th Quarter 2011 compared to 2010

  • Consolidated sales increased 8%, to $174.9 million compared to $161.7 million.
  • Income was $15.9 million before amortization, change in fair value of redeemable financial instruments, finance income and expenses, and taxes, compared to $19.9 million.
  • Operating income before change in fair value of redeemable financial instruments, interest and taxes decreased to $14.1 million, compared to $17.0 million.
  • Net income and basic earnings per common share were $9.7 million, and $0.43 per share respectively, compared to $10.7 million and $0.49 per share.

Full year 2011 compared to 2010

  • Consolidated sales increased 42%, to $583.7 million compared to $412.3 million.
  • Income was $53.3 million before amortization, change in fair value of redeemable financial instruments, finance income and expenses, and taxes, compared to $44.0 million.
  • Operating income before change in fair value of redeemable financial instruments, interest and taxes increased to $43.3 million, compared to $35.4 million.
  • Net income and basic earnings per common share were $28.7 million and $1.29 per share respectively, compared to $23.4 million and $1.06 per share.

Highlights for each business unit are:

Retail Canada

4th Quarter 2011 compared to 2010

  • Sales of retail mobile phone products and services in the Retail Canada Division increased 4% to $113.1 million, compared to $108.6 million.
  • Operating income before change in fair value of redeemable financial instruments, interest and taxes decreased to $14.9 million, compared to $18.8 million.
  • WIRELESSWAVE and Tbooth wireless delivered strong results in this quarter, whereas WIRELESS etc. was impacted by the absence of a top selling smartphone in its product lineup introduced to the market in the 4th quarter of 2011 compared to extraordinary sales performance of its predecessor model sold by WIRELESS etc. in the same quarter of 2010.

Full year 2011 compared to 2010

  • Sales of retail mobile phone products and services in the Retail Canada Division increased 15% to $380.7 million, compared to $330.2 million.
  • Operating income before change in fair value of redeemable financial instruments, interest and taxes increased to $49.6 million, compared to $47.4 million.

Retail U.S.

4th Quarter 2011 compared to 2010

  • Sales of retail mobile phone products and services in the Retail U.S. Division increased 18% to $53.1 million, compared to $45.1 million.
  • Operating income before change in fair value of redeemable financial instruments, interest and taxes increased to $4.8 million, compared to $4.0 million.

Full year 2011 compared to 2010

  • Sales of mobile phone products and services in the Retail U.S. Division increased 278% to $170.2 million, compared to $45.1 million.
  • Operating income before change in fair value of redeemable financial instruments, interest and taxes increased to $13.6 million, compared to $4.0 million.

Diamond Wireless (Retail U.S) was acquired October 1, 2010

Business Division

4th Quarter 2011 compared to 2010

  • Business Division sales of terrestrial narrowband and broadband radio systems, satellite network services, and implementation services increased 10% to $8.7 million, compared to $7.9 million.
  • Operating income before change in fair value of redeemable financial instruments, interest and taxes increased to $0.5 million, compared to a loss of $1.0 million.

Full year 2011 compared to 2010

  • Sales of terrestrial narrowband and broadband radio systems, satellite network services, and implementation services in the Business Division decreased 12% to $32.8 million, compared to $37.7 million.
  • Operating income before change in fair value of redeemable financial instruments, interest and taxes increased to $0.2 million, compared to a loss of $1.3 million.

Corporate

4th Quarter 2011 compared to 2010

  • Corporate operating and administrative expenses increased to $5.8 million (3% of sales), compared to $4.6 million (3% of sales). This includes Retail U.S. corporate costs of approximately $1.3 million (2010 - $0.9 million) and corporate development costs of $0.2 million.

Full year 2011 compared to 2010

  • Corporate operating expenses increased to $19.3 million (3% of sales), compared to $13.9 million (3% of sales). This includes Retail U.S. corporate costs of approximately $3.9 million (2010 - $0.9 million) and corporate development costs of $0.3 million.