MANITOBA TELECOM SERVICES INC. $34 - Toronto symbol MBT

MANITOBA TELECOM SERVICES INC. $34 (www.mtsallstream.com) continues to see rising demand for wireless and high-speed Internet services. However, higher depreciation expenses caused its earnings per share to fall 11.8% in the second quarter of 2012, to $0.67 from $0.76 a year earlier. If you adjust for an unusual tax recovery in the year-earlier quarter, earnings per share would have risen 4.7%. Buy.

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