Telehop Communications Reports Third Quarter 2011 Financial Results
22 Novembre 2011 - 10:50PM
PR Newswire (Canada)
TORONTO, Nov. 22, 2011 /CNW/ - Telehop Communications Inc. is a
fullservice long distance provider operating within the
telecommunications industry and is registered with the Canadian
Radio-television and Telecommunications Commission ("CRTC") as a
licensed Class "A" Telecom Carrier. The first nine months of 2011
have seen significant changes and improvements which will better
position the company to move forward: -- Management changed in
April, bringing a new brand of leadership focused on marketing and
operational improvements, -- Shareholders ratified the Company's
direction during its AGM in May of this year, -- 25% Rights
issuance was fully subscribed raising additional capital in late
September, Subsequent to the period end: -- Purchase agreement with
a major Telecommunications company to replace the Company's
existing and aging switch technology amounting to approximately
$450,000. The new switch will provide "carrier-grade" technology to
enhance the quality of the Company's existing services, --
Three-year leasing agreement with a major Telecommunications
company to house the new switch and enhance the Company's existing
network infrastructure. In order to ensure minimum impact to
customer experience, it is necessary that the Company runs a
duplicate network nationwide during implementation of the new
switch. This will result in additional fourth quarter expenses
amounting to approximately $90,000. The completion date for the new
switch project is expected to be in the first quarter of 2012.
Consolidated Three months ended Nine months ended Highlights ($000
CAD, Sept. 30, Sept. 30, Sept. 30, Sept. 30, 2010 except for EPS)
2011 2010 2011 Consolidated Income Statement Operating $ 2,701 $
2,907 $ 8,019 $ 8,889 revenues Gross margin 1,206 1,282 3,518 3,775
Gross margin % 44.7% 44.1% 43.9% 42.5% Operating $ (124) $ 25 $
(506) $ (186) income (loss) EBITDA (83) 97 (374) 46 Net income (76)
13 (384) (158) (loss) Earnings (loss) (0.01) 0.00 (0.03) (0.01) per
share - basic With new management engaged, and moving into the
fourth quarter and beyond, the Company's focus will be to continue
to grow and drive sales of subscription services, namely:; Long
Distance, VoIP Phone, and High Speed Internet. The marketing
strategy will focus on aggressively expanding the Company's network
of agents to move into new market segments. Furthermore, the
company will continue to focus on the Research & Development of
new products and services for launch in early 2012. A complete
financial reporting package is available on Sedar
http://www.sedar.com , http://www.telehop.com or by contacting the
company directly. Certain statements in this press release may
constitute "forward looking statements" and involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Corporation to
be materially different from any performance or achievement
expressed or implied by such "forward looking statements". The TSX
Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release Telehop Communications Inc. CONTACT:
Company Contact:Mr. Rajiv JagotaPresident and CEO(416) 494
4490rjagota@telehop.com
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Telehop Communications Inc. (TSXV:HOP)
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