The world is a difficult place for phone companies. The margins and profits for companies like Telstra in earlier years were based on an environment that no longer exists.
Figures like these are reassuring for the global companies here. Nothing about the U.S. is concerning for us on this side of the globe right now.
Times will change, but not in 2006. It's not so easy for phone companies like Telstra to make money like they used to. They're a hard sell to investors.