Business
Lite Access Technologies Reports 2020 Q4 and Year End Financial Results - Revenues Up 55% Year Over Year
Lite Access Technologies Reports 2020 Q4 and Year End Financial Results - Revenues Up 55%...
About this update from Ironman International Ltd.
[{"type":"text","content":"\n \n \n \n Lite Access Technologies Reports 2020 Q4 and Year End Financial Results - Revenues Up 55% Year Over Year\n \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 Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 28, 2021\n \n /CNW/ -\n \n LITE ACCESS TECHNOLOGIES INC.\n \n (the \"\n \n Company\n \n \") (\n \n TSX VENTURE: LTE\n \n ) (\n \n PINK:\n \n \n LTCCF\n \n ), a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost of fibre optic network deployment for telecommunications operators, reports its financial results for the fourth quarter and fiscal year ended\n \n September 30\n \n , 2020.  The financial statements and related management's discussion and analysis (\"MD&A\") can be viewed on SEDAR at\n \n \n www.sedar.com\n \n \n .\n \n \n \n Carlo Shimoon\n \n , President and CEO of Lite Access, stated, \"Execution of operations was proving to be increasingly challenging in the UK with continuing tighter COVID-19 restrictions and UK lockdowns and the Company was working closely with its UK customer for several months to seek additional support related to operational inefficiencies related to COVID-19 and other contractual challenges, but with limited progress.\n \n \n In\n \n November 2020\n \n , the Company announced that it was unable to meet targets with the continuing conditions and was implementing a mitigation strategy. Accordingly, the UK operations were suspended temporarily to allow the Company time to consult with stakeholders to optimize both its current operations and existing contracts in a COVID-19 environment.  In\n \n December 2020\n \n , the Company resumed partial UK operations, based on good faith discussions with its customer that certain contractual challenges would be addressed, and was working to build a pathway to increase the ramp-up of operations and was working with stakeholders to create a sustainable path forward incorporating planning and operational efficiencies and optimizing ex...