SaskTel released its annual report Monday stating that it made a profit of nearly $129.6 million in 2012.

The government-owned  phone company attributed the profit to the increased use of smart phones and Max TV.

Sasktel’s president Ron Styles said the company is also investing in projects outside the scope of its competitors such as bringing high speed internet to more than a dozen First Nations communities.

"We went out of our way to get a hold of the federal government and allow them to finance the move onto reserves. I don’t think you’re going to see Rogers, Bell, Telus, or anybody else do that, okay?" said Styles.

The expansion is part of an initiative that was first announced in 2010, and aimed at providing internet and 4G coverage to 28 First Nations communities in the province.

According to Styles, one of the advantages to having the public own SaskTel is to extend into remote communities.

"Those are communities that have 100, 150 people. You know they’re not economic. We’re not going to get a return on the money we’re investing in there. We’ll break even potentially. We’ll make decisions quite obviously that none of our competitors will," he said.

The annual report also said that the company will give about 65 per cent of its profit back to the government as a dividend.

Styles said SaskTel will announce more service for northeast Saskatchewan on Friday.