Business
Lite Access Technologies Inc. Reports Q3 2017 Financial Results and Provides Corporate Update
Lite Access Technologies Inc. Reports Q3 2017 Financial Results and Provides Corporate Upd...
About this update from Ironman International Ltd.
[{"type":"text","content":"\n\n\n\nLite Access Technologies Inc. Reports Q3 2017 Financial Results and Provides Corporate Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Aug. 29, 2017\n\n\n\n\nLite Access Continues Revenue Growth in United Kingdom Operations\nGains Permitting Approvals in United Kingdom, Additional Crews Trained & Equipped to Position for Significant Growth\n\n\nVANCOUVER, Aug. 29, 2017 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the \"Company\") (TSX VENTURE: LTE)(OTC PINK: LTCCF), a world leader in fibre optic products and advanced installation methodologies, today reported its financial results for the third quarter ended June 30, 2017 and provides corporate update.  The Company's unaudited financial statements and related management's discussion and analysis (\"MD&A\") can be viewed on SEDAR at www.sedar.com. \n\nHighlights for the Third Quarter 2017:\n\n\nLite Access UK Continues Revenue Growth.  Lite Access UK 2017 Q3 revenues of $1,116,293 as compared to Lite Access UK 2017 Q2 revenues of $954,196.  Total Lite Access UK revenue of $2,189,682 for the nine-month period ended June 30, 2017.\nUK Home Connections.  Lite Access UK has completed over 3,000 homes and 10kms of trunk / backbone across the United Kingdom.\nRevenue for the Group of Companies.  Total revenue of $1,912,934 for the quarter ended June 30, 2017 ($5,518,751 for the nine months ended June 30, 2017) compared to $2,437,537 for the quarter ended June 30, 2016 ($10,146,561 for the nine months ended June 30, 2016).\nKey Board Appointments. As previously announced, Lite Access appointed an international telecom veteran, Steven King, and a capital markets veteran, Kevin Smith, to its board of directors at its annual general meeting.\nLiquidity.  Cash of $17,242,798 as at June 30, 2017.\nNet Loss.  Net comprehensive loss after taxes of $2,032,540 for the quarter ended June 30, 2017 compared to net comprehensive income after taxes of $614,386. \nThe net comprehensive loss for 2017 is attributable to Lite Access UK start-up costs relating t...