THE CANADIAN PRESS

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BURNABY, B.C. - A reduction in promotional funds and a decline in hardware subsidies pulled down both revenue and profit in the third quarter, telecommunications provider Glentel Inc. (TSX:GLN) said Thursday.

For the July-September period, it had net income of $5.8 million or 53 cents a share. That's down from the $6.6 million or 61 cents a share it generated in the same prior-year period, when Apple's smartphone iPhone was launched.

Glentel's revenues fell to $81.9 million from $90.6 million.

The company declared a special dividend of 30 cents per share, payable Nov. 23.