Business
Total Telcom Announces Financial Results for Third Quarter Fiscal 2006
Total Telcom Announces Financial Results for Third Quarter Fiscal 2006.
About this update from Total Telcom Inc.
[{"type":"text","content":"\n\n\n\n\nEDMONTON, May 29 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) today\nannounced its financial results for the quarter ended March 31, 2006. The\nCompany's consolidated revenues from continuing operations for the third\nquarter ended March 31, 2006 were $104,807. The company reported a net loss of\n$180,410 or $0.007 per share for the quarter ended March 31, 2006 compared to\na net loss of $0.009 per share for the quarter ended March 31, 2005. The\nCompany reported cash of $3,927,850 and working capital of $5,422,667 as at\nMarch 31, 2006.\nMr. Scott Allen, CA, CFO, stated that \"the current quarter results\nreflect the Company's reorganization which addressed the significant overhead\nand administration reductions required, resulting from the sale of its fiber\noptic network and the cessation of its construction services. Both the\nEdmonton and Kelowna operations were moved to new facilities that reflect the\ndirection and scale of current operations. Administration personnel were\nreplaced with additional technical staff to help expedite the development and\ncompletion of new products and services scheduled for release over the next\nquarter.\"\nMr. Neil Magrath, CEO, stated that \"the Company has identified\nsignificant opportunities in the Environmental, Utility and Asset Management\nmarket segments. The Corporation will begin to implement a strategic sales and\nmarketing plan in the forth quarter which will incorporate a series of\napplication specific products and services developed by ROM. Two fulltime\nsales professionals have been hired to support this initiative and in addition\nseveral strategic key industry partners have been made distributors of ROM's\nproducts and services. While management expects see immediate results from\nthis initiative it does not anticipate being cash flow positive until the next\nfiscal year.\"\n\nTrading symbol: TTZ: TSX Venture\n\n>\n\n\n","length":2079,"tagName":"div"}]