Trading symbol: TTZ: TSX Venture Website: www.totaltelcom.com EDMONTON, Nov. 28 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) today announced its financial results for the quarter ended September 30, 2005. The Company's consolidated revenue for the first quarter of fiscal 2006 was $564,534 compared to $984,169 for the same period last year. EBITA earnings for the first quarter were a loss of $52,493 with a net loss of $234,362 ($0.9 cents per share) compared to net earnings of $24,590 ($0.1 cents per share) reported for the quarter ended September 30, 2004. The Company also announced a change in management effective November 24, 2005 with Mr. Robert Beaton stepping down as President of the Company at the request of the Board of Directors and his coinciding resignation as a director. Mr. Neil Magrath has been appointed Chief Executive Officer of Total Telcom Inc. on an interim basis. Mr. Magrath, on behalf of the Board of Directors, thanked Mr. Beaton for his contribution to the Company. "The Company, led by Mr. Beaton, responded to the profitable opportunities associated with the Alberta Supernet and played a significant role in its successful completion." Mr. Magrath further stated "the Company is responding to the realities that exist today, fewer and smaller capital engineering and construction projects, and a highly competitive environment for the distribution of broadband and last mile connectivity." "The Company continues to have a strong working capital surplus and remains committed to capitalizing on its continued focus in the communication sector with the expansion of its wholly owned subsidiary, ROM Communications and the opportunities associated with the pending sale and revenue sharing agreement of Total Telcom Fiber Inc.", said Mr. Magrath. "The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."
Total Telcom Announces Financial Results for First Quarter Fiscal 2006
Story so far
Earlier from Total Telcom
- Total Telcom Announces Agreement to Sell Subsidiary
- Total Telcom Announces Fiscal 2005 Financial Results
- Total Telcom announces ROM partnership with US manufacturer
- Total Telcom Announces Involvement In Purified Water Distribution Initiative
- Total Telcom Announces ROM Initiative
Later from Total Telcom
- Total Telcom Announces Financial Results for Second Quarter Fiscal 2006
- Total Telcom Announces Resignation of Director
- Total Telcom Completes Subsidiary Sale - Receives $1.25 Million Payment
- Total Telcom Announces Financial Results for Third Quarter Fiscal 2006
- Total Telcom Announces The Grant of Stock Options
Follow Total Telcom into a list and get an email when it puts out news.
Follow Total Telcom