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LITE ACCESS TECHNOLOGIES REPORTS Q1 2023 FINANCIAL RESULTS - REVENUES UP 37%
LITE ACCESS TECHNOLOGIES REPORTS Q1 2023 FINANCIAL RESULTS - REVENUES UP 37% Canada New...
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[{"type":"text","content":"\n \n \n \n LITE ACCESS TECHNOLOGIES REPORTS Q1 2023 FINANCIAL RESULTS - REVENUES UP 37%\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.prngen3{\nPADDING-RIGHT:0.33em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; FONT-SIZE: 8PT; FONT-FAMILY: ARIAL; COLOR: BLACK; MARGIN:0em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 28, 2023\n \n \n /CNW/ -\n \n LITE ACCESS TECHNOLOGIES INC.\n \n (the \"\n \n Company\n \n \") (TSXV: LTE) (OTC: LTCCF), a world leader in the fibre optic products and advanced installation methodologies, today reported its financial results for the first quarter ended\n \n December 31\n \n , 2022.  The financial statements and related management's discussion and analysis (\"MD&A\") can be viewed on SEDAR at\n \n www.sedar.com\n \n .\n \n \n \n FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER 2023 (1):\n \n \n \n \n Total Q1 2023 revenue of\n \n $1,845,593\n \n compared to revenue of\n \n $1,346,050\n \n for Q1 2022, an increase of 37%;\n \n \n Gross profit for Q1 2023 of\n \n $195,254\n \n , or 11%, compared to\n \n $13,385\n \n , or 1%, for Q1 2022. The improvement primarily due to strong project execution and cost management, offset by the higher material and subtrade costs resulting from global supply chain issues and labour shortage;\n \n \n EBITDA* for the three months ended\n \n December 31, 2022\n \n was\n \n ($210,979)\n \n versus\n \n ($439,093)\n \n in the...