Trading symbol: TTZ: TSX Venture EDMONTON, Feb. 28 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) today announced its financial results for the quarter ended December 31, 2005. The Company's consolidated revenues from continuing operations for the second quarter ended December 31, 2005 were $239,126. The company reported a net loss of $46,488 or a loss of $0.002 per share for the quarter ended December 31, 2005 compared to net earnings of $0.013 per share for the quarter ended December 31, 2004. The Company reported cash of $3,829,303 and working capital of $5,569,001 as at December 31, 2005. Mr. Scott Allen, CA, CFO, stated that "the current quarter results are not comparable to the second quarter of 2004 as the comparative figures relate to the company's discontinued operations which resulted from the sale of Total Telcom Fiber Inc. and the effective cessation of operations of Total Telcom Canada Corporation." Mr. Neil Magrath, CEO, stated that "the Company has a strong working capital position and is well posed to take advantage of the increased Industry demand for wireless products and services through its wholly owned subsidiary ROM Communications Inc." Mr. Magrath further stated, "in addition to growing ROM, Total Telcom remains focused on its financial interest with the continued sale and leasing of the unencumbered fiber from the Network sold to a third party on December 1, 2005." The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
