Trading symbol: TTZ: TSX Venture Website: www.totaltelcom.com EDMONTON, Nov. 28 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) today announced its financial results for the quarter ended September 30, 2005. The Company's consolidated revenue for the first quarter of fiscal 2006 was $564,534 compared to $984,169 for the same period last year. EBITA earnings for the first quarter were a loss of $52,493 with a net loss of $234,362 ($0.9 cents per share) compared to net earnings of $24,590 ($0.1 cents per share) reported for the quarter ended September 30, 2004. The Company also announced a change in management effective November 24, 2005 with Mr. Robert Beaton stepping down as President of the Company at the request of the Board of Directors and his coinciding resignation as a director. Mr. Neil Magrath has been appointed Chief Executive Officer of Total Telcom Inc. on an interim basis. Mr. Magrath, on behalf of the Board of Directors, thanked Mr. Beaton for his contribution to the Company. "The Company, led by Mr. Beaton, responded to the profitable opportunities associated with the Alberta Supernet and played a significant role in its successful completion." Mr. Magrath further stated "the Company is responding to the realities that exist today, fewer and smaller capital engineering and construction projects, and a highly competitive environment for the distribution of broadband and last mile connectivity." "The Company continues to have a strong working capital surplus and remains committed to capitalizing on its continued focus in the communication sector with the expansion of its wholly owned subsidiary, ROM Communications and the opportunities associated with the pending sale and revenue sharing agreement of Total Telcom Fiber Inc.", said Mr. Magrath. "The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."
