MANILA, Philippines, 5th May 2009 –– Philippine Long Distance Telephone Company
(“PLDT”) (PSE: TEL) (NYSE: PHI) today announced its financial results for the first three
months of 2009 with Core Net Income, net of exceptional items, rising to P10.2 billion, 9% over the Core Net Income of P9.3 billion for the same period in 2008. Consolidated Reported Net Profit of P9.6 billion decreased 8% from the P10.4 billion Reported Net Profit in the same period last year. This quarter’s results were impacted by non-recurring losses from the foreign exchange revaluation of our financial assets and liabilities and derivatives compared with forex and derivative gains last year, partially offset by a lower statutory tax rate. Consolidated service revenues increased by 4% to P36.2 billion, fueled mainly by the 6% growth in data and broadband revenues. Consolidated EBITDA was stable at P21.9 billion while EBITDA margin was 60%. Read more