Financial highlights (tabular amounts in thousands of Canadian dollars, except per share data), are:

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Three months ended Nine months ended

September 30 September 30

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2009 2008 2009 2008

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Sales $81,905 $90,614 $217,198 $201,826

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Income, before interest, taxes

and amortization $10,404 $11,328 $20,818 $17,514

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Operating income, before interest

and taxes $8,856 $9,685 $16,266 $12,722

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Net income $5,834 $6,550 $10,894 $8,626

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Basic net income per share $0.53 $0.61 $1.01 $0.81

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Diluted net income per share $0.52 $0.59 $0.99 $0.78

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Consolidated sales for the three months ended September 30, 2009 were $81,905,000 compared to $90,614,000 in the same period in 2008. Operating income before interest and taxes for the 3rd quarter was $8,856,000 compared to $9,685,000 in 2008. Net income and basic earnings per share for the 3rd quarter were $5,834,000, $0.53 per share, compared to $6,550,000, $0.61 per share, in 2008.

Consolidated sales for the nine months ended September 30, 2009 grew 7%, to $217,198,000 compared to $201,826,000 in the same period of 2008. Operating income before interest and taxes for the nine months increased to $16,266,000 compared to $12,722,000 in 2008. Net income and basic earnings per share for the nine months increased to $10,894,000, $1.01 per share, compared to $8,626,000, $0.81 per share, for the same period in 2008.

"We are very pleased with our 3rd quarter financial results," said Thomas Skidmore, GLENTEL's President and Chief Executive Officer. "Retail sales are in line with our 2009 targets but down when compared to the extraordinary results for the 3rd quarter in 2008 due to the launch of the Apple iPhone. Smartphone devices continue to be a major driver of retail wireless sales and profits, and we anticipate a strong finish to our year."

Retail Division sales of mobile phone products and services were $74,512,000 for the 3rd quarter compared to $81,118,000 for the same period in 2008. Sales for the 3rd quarter in 2009 were in line with divisional goals and more reflective of 3rd quarter results prior to 2008. In 2008, the 3rd quarter results were extraordinary.