Thursday, November 12th, 2009
Telehop returns to profitability in the Q3 despite a drop in revenues
TORONTO - Long-distance services company Telehop Communications Inc. (TSXV:HOP) returned to profitability in the third quarter despite a 15 per cent drop in revenues.
The company reported Thursday net income of $127,000 or a penny a share in the period ended Sept. 30. That's an improvement from a year-earlier loss of $102,000 or a penny a share.
Its operating revenues slid to $3.4 million from $4 million.
Telehop cited the decrease in operating expenses for the improved quarterly results. Expenses were cut to $1.5 million in the quarter from $1.8 million in the same 2008 period.
While the company blamed the drop in retail and wholesale long distance businesses for the reduced revenues.
