Trading symbol: TTZ: TSX Venture
Website: www.totaltelcom.com
EDMONTON, Oct. 26 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) today
announced its financial results for the year ended June 30, 2005. The
Company's consolidated revenue for the year was $3,689,626 compared to
$12,949,296 for the previous year. Gross profit before general and
administrative expenses was $1,649,720 resulting in a net loss for the year of
($382,732) or (1.7) cents per share compared to net earnings of $1,744,030 or
8.8 cents per share for the previous year. The Company further reported that
its next Annual General Meeting is currently being scheduled for March 17th,
2006.
"The results for the year are largely attributable to substantial
completion of the SuperNet in our fiscal 2004, resulting in a significant
reduction in the amount of third party engineering & construction work
available through fiscal 2005 and in the foreseeable future," stated President
Robert Beaton. Mr. Beaton further commented, "Since successfully completing
our SuperNet work, we have been focused on the operation and further
utilization of our fiber optic network as well as the further development of
our ROM operating division. It should be noted that the reported paper loss
for this year is directly related to significant amortization charges against
our network asset and intangible assets. I am extremely pleased that our
personnel continue to be conscious of operational costs and committed to
realizing positive earnings as we undergo this transition in our business."
Total Telcom owns, operates and manages state of the art long haul IP
Broadband Fiber Optic Networks, currently providing Bandwidth, Lit and Dark
Fiber-Optic Services to communities in Alberta and BC. They also provide
turnkey design, engineering, construction and maintenance services for
selected third party clients.
ROM Communications, a wholly owned subsidiary of Total Telcom Inc.,
provides "Web to Wireless" products and services across North America for
remote control, monitoring and asset management. ROM is an authorized airtime
reseller and hardware developer for satellite, control channel and wireless IP
Networks. The Corporation derives revenues from the sale of proprietary and
third party hardware and residual income from ongoing monthly access fees.
"The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release."
