Business
Total Telcom Announces Financial Results for First Quarter Fiscal 2006
Total Telcom Announces Financial Results for First Quarter Fiscal 2006.
About this update from Total Telcom Inc.
[{"type":"text","content":"\n\n\n\n\nTrading symbol: TTZ: TSX Venture\nWebsite: www.totaltelcom.com \n\nEDMONTON, Nov. 28 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) today\nannounced its financial results for the quarter ended September 30, 2005. The\nCompany's consolidated revenue for the first quarter of fiscal 2006 was\n$564,534 compared to $984,169 for the same period last year. EBITA earnings\nfor the first quarter were a loss of $52,493 with a net loss of $234,362\n($0.9 cents per share) compared to net earnings of $24,590 ($0.1 cents per\nshare) reported for the quarter ended September 30, 2004.\nThe Company also announced a change in management effective November 24,\n2005 with Mr. Robert Beaton stepping down as President of the Company at the\nrequest of the Board of Directors and his coinciding resignation as a\ndirector. Mr. Neil Magrath has been appointed Chief Executive Officer of Total\nTelcom Inc. on an interim basis.\nMr. Magrath, on behalf of the Board of Directors, thanked Mr. Beaton for\nhis contribution to the Company. \"The Company, led by Mr. Beaton, responded to\nthe profitable opportunities associated with the Alberta Supernet and played a\nsignificant role in its successful completion.\" Mr. Magrath further stated\n\"the Company is responding to the realities that exist today, fewer and\nsmaller capital engineering and construction projects, and a highly\ncompetitive environment for the distribution of broadband and last mile\nconnectivity.\"\n\"The Company continues to have a strong working capital surplus and\nremains committed to capitalizing on its continued focus in the communication\nsector with the expansion of its wholly owned subsidiary, ROM Communications\nand the opportunities associated with the pending sale and revenue sharing\nagreement of Total Telcom Fiber Inc.\", said Mr. Magrath.\n\n\"The TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\"\n\n\n","length":1978,"tagName":"div"}]