Telehop Communications Reports 2011 First Quarter Results

TORONTO, June 15, 2011 /CNW/ - Telehop Communications Inc. (TSXV: HOP), a Canadian Radio-television and Telecommunications Commission ("CRTC") licensed Class "A" telecommunications carrier based in Ontario, today announced its results for the first quarter ended March 31, 2011.

     
Consolidated Highlights   Three months ended

($000's Canadian)
          March 31,
2011
          March 31,
2010
Consolidated Income Statement                        
Operating revenues           $ 2,671           $ 2,922
Gross margin
Gross margin %





1,139
42.6%





1,190
40.7%
EBITDA           (149)           (76)
Net income (loss)           (158)           (108)
Earnings (loss) per share - basic           (0.01)           (0.01)
Earnings (loss) per share - diluted           (0.01)           (0.01)

Quarterly Financial Summary

Revenue for first quarter 2011 was $2,671,104 with a net loss of $157,980 or $(0.01) per common share compared to revenue of $2,921,745 with a net loss of $108,052 or $(0.01) per common share for the first quarter 2010. Telehop's first quarter 2011 revenue was $250,640 or 8.6% less than first quarter 2010, which is attributable to a reduction in our retail long-distance business of $187,702 and a reduction in our wholesale long-distance business of $62,938.

Telehop's gross margin as a percentage of revenue for the first quarter improved to 42.6% compared to 40.7% for the same quarter in 2010.

Operating expenses decreased marginally from $1,343,024 in first quarter 2010 to $1,341,554 due to an increase to General and Administration expenses, despite additional costs associated with the dissident shareholder calling a special meeting during the first quarter. Similar expenses related to the dissident were incurred during the second quarter.

The reduction in revenue with higher gross margins and stable operating expenses has resulted in a net loss for first quarter 2011 of $157,980 compared to net loss of $108,052 for same quarter 2010.

A complete financial reporting package is available on www.sedar.com and at www.telehop.com

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


 

 

SOURCE Telehop Communications Inc.

For further information:

Mr. Rajiv Jagota
President and CEO
(416) 494 4490
rjagota@telehop.com

Profil de l'entreprise

Telehop Communications Inc.

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