TigerTel Communications Inc. (TigerTel)(TSX VENTURE: TTL),
announced today its operating results for the three-month period
ending October 31, 2008. TigerTel reported revenue of $5,287,667,
direct costs of $2,719,029 and a gross profit of $2,568,638.
Operating expenses amounted to $1,927,913. Net earnings before
interest, taxes, amortization and other income for the period was
$640,725. Interest, amortization and provision for income taxes
amounted to $91,642, $348,876 and $39,147 respectively. Gain from
discontinued operation was $840, resulting in net income for the
period of $161,900.
For the corresponding period last year the Company reported
revenue of $5,424,736, direct costs of $2,838,616 and a gross
profit of $2,586,120. Operating expenses amounted to $1,795,161.
Net earnings before interest, taxes, amortization and other income
for the period was $790,959. Interest, amortization and provision
for income taxes amounted to $142,329, $293,686, and $130,218
respectively. Gain from discontinued operation was $16,385,
resulting in net earnings for the period of $241,111.
For the six months ended October 31, 2008, TigerTel reported
revenue of $10,915,011, direct costs of $5,853,865 and a gross
profit of $5,061,146. Operating expenses amounted to $3,903,908.
Net earnings before interest, taxes, amortization and other expense
for the period was $1,157,238. Interest, amortization and provision
for income taxes amounted to $193,022, $656,531 and $70,746
respectively. Loss from discontinued operation was $45,442,
resulting in net earnings for the period of $191,497.
For the corresponding six month period last year the Company
reported revenue of $10,868,153, direct costs of $5,563,911 and a
gross profit of $5,304,242. Operating expenses amounted to
$3,565,626. Net earnings before interest, taxes, amortization and
other income for the period was $1,738,616. Interest, amortization
and provision for income taxes amounted to $284,998, $550,187 and
$345,869 respectively. Gain from discontinued operation was
$32,255, resulting in net earnings for the period of $589,818.
Douglas D. Swift, President and CEO, commented, "Following a
disappointing Q1, the results for Q2 are encouraging. Even though
traffic volumes were substantially lower than the previous period,
operating efficiencies were much improved, resulting in far
superior net earnings for the quarter.
With the initial implementation of our new operating platform is
close to completion, we anticipate the inherent cost savings to
begin to materialize towards the end of Q3 and increase during Q4.
The ability to share increased traffic volumes coupled with
improved operating efficiencies will benefit both, our valued
customers and TigerTel."
About TigerTel
TigerTel, a Canadian call center organization, specializes in
inbound and outbound call center solutions and services for clients
throughout North America. With multiple call centers across Canada,
TigerTel has built an infrastructure that provides personalized
services to our clients while at the same time delivering
world-class results at every level. TigerTel's vision is to provide
interactive communication solutions for our clients and their
customers by a team focused on service excellence, personal
integrity and technical innovation.
This news release contains forward-looking statements that
involve risks and uncertainties and are based on current
expectations. Consequently, actual results could differ materially
from the expectations expressed in forward-looking statements.
TIGERTEL COMMUNICATIONS INC.
Douglas D. Swift, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content on this
news release.
Contacts: TigerTel Communications Inc. P. Livingstone (905)
629-7190
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