By Business Wirevia The Motley Fool
Filed under: Investing
Telehop Announces Positive Fourth Quarter and Year End 2012 Results
Continued positive operating income and EBITDA growth create opportunities to strengthen market efforts
TORONTO–(BUSINESS WIRE)– Telehop Communications Inc. (“Telehop” or the “Company”), (TSX-V: HOP) today announced its financial performance during the fourth quarter and year ended December 31, 2012.
Telehop has returned operations to positive EBITDA and profitability for the year due to management’s sustained focus on operations and utilization of staffing and resources. The consecutive year-over-year performance improvements create opportunities for management to strengthen its market-facing efforts and expand into new markets.
“Telehop has made significant progress on our longer-term strategic initiatives and has become a stronger, better positioned company with positive results and talented people,” said Rajiv Jagota, President CEO, Telehop.
During the fourth quarter, Telehop saw EBITDA rise to $128,493 from $(380,599) during the same period last year. Operating income grew to $85,085 from $(602,192) a year ago. EBITDA for the year is positive $191,649 compared to $(749,678) in 2011 a change of $941,327.
Company highlights during the year include:
- Launch of the new #100 mobile dial around service on the TELUS mobility network offering all TELUS prepaid and post-paid customers an easy dial around solution from their mobile phones.
- The Company completed a private placement for the gross proceeds of CDN $750,000 through the issuance of 7,500,000 common shares for net proceeds of $653,024.
- The Company has gone through a rebranding strategy and developed a new logo and look and feel to the Company, with a focus on a master brand strategy versus standalone brand advertising.
- Improved accounts receivable and collections process reducing accounts receivable and bad debts exposure.
- Successfully completed network and switching infrastructure upgrades to enhance quality of service, product offerings, and cost efficiencies.
FINANCIAL OVERVIEW
