www.WirelessFederation.com/news: Telecom New Zealand has posted a drop of 32% year-on-year net income, for the year ended 30th June 2009. The net income is down from NZD713 million (USD481 million) in FY07/08 to NZD483million a year later. This drop is driven by a 20% increase in depreciation and amortisation expenses, up to NZD917 million at the end of June. Earnings before interest, taxes, depreciation and amortisation (EBITDA) plunged by 7% year-on-year, down to NZD1.77 billion. Revenues dropped by NZD86 million over the course of the year to NZD5.59 billion, while operating expenses grew marginally to NZD3.81 billion, up from NZD3.78 billion at the end of June 2008.

Its W-CDMA based ‘XT’network, which was launched on 29 May 2009, has gained 165,000 subscribers in its first two months of operation. Although, there was a decline of 26,000 net subscribers to Telecom’s overall mobile networks.