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Lite Access Technologies Reports Strong Revenue Growth and Profits in Q1 2019
Lite Access Technologies Reports Strong Revenue Growth and Profits in Q1 2019 Cana...
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[{"type":"text","content":"\n\n\n\nLite Access Technologies Reports Strong Revenue Growth and Profits in Q1 2019\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, Feb. 28, 2019\n\n\n\nVANCOUVER, Feb. 28, 2019 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the \"Company\") (TSX VENTURE: LTE)(PINK: LTCCF), 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, yesterday reported its financial results for the first quarter ended December 31, 2018.  The financial statements and related management's discussion and analysis (\"MD&A\") can be viewed on SEDAR at www.sedar.com.\nFinancial Highlights for the First Quarter 2019:\nTotal Q1 2019 revenue of $6,796,437 compared to $2,618,806 for Q1 2018, an increase of 160% over the same period last year; Gross margin for Q1 2019 was strong at $2,126,675, or 31%, compared to $228,448, or 9%, in Q1 2018; EBITDA* of $747,101 for the three months ended December 31, 2018 compared to ($483,237) in the year ago period; Net comprehensive income of $548,231 for the quarter ended December 31, 2018 compared to net comprehensive loss of $940,526; Working capital of $7,338,852 at December 31, 2018; As at December 31, 2018, the Company had 43,569,832 common shares issued and outstanding.\"We are very pleased with the progress we have made in this first quarter with respect to revenue and profitability. We remain steadfast on executing our growth initiatives in a tighter cost environment which is evident by the increase in our EBITDA margins,\" stated Carlo Shimoon, CEO of Lite Access.  \nAbout Lite Access\nLite Access Technologies Inc. is 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 the network deployment for telecommunications operators. Lite Access has successfully deployed or enabled deployment of thousands of kilometres of broa...