KELOWNA, BC, and EDMONTON, Oct. 29 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) today announced its financial results for the year ending June 30th, 2007. The Company's consolidated revenue from operations were $1,328,698. The Company reported a net loss of $233,328 or a loss of $0.009 per share compared to a net loss of $0.21 per share for the year ending June 30, 2006. The Company reported cash of $4,822,048 and working capital of $5,106,246 as at June 30, 2007.
Mr. Scott Allen, C.A., CFO, stated that "the Company reported a positive cash flow from continuing operations of $51,580 before amortization and depreciation of $284,908 reflecting a significant milestone in the Corporation's financial performance."
Mr. Neil Magrath, CEO, stated that "Management is pleased with its initiatives, direction and the financial progress of Total Telcom Inc. We anticipate a slow start to the first half of the new fiscal year followed by a very strong 3rd and 4th quarter as the Corporation introduces a new proprietary product line called ROMTRAX currently being evaluated by a number of customers including the Canadian Coast Guard."
Trading symbol: TTZ: TSX Venture
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