Telehop announces positive third quarter 2012 financial results
TORONTO, Nov. 13, 2012, 2012 (Canada NewsWire via COMTEX) --
Continued positive operating income and EBITDA growth
Telehop Communications Inc. ("Telehop" or
the "Company"), (TSX-V: HOP) today announced its financial performance
during the third quarter ended September 30, 2012.
Telehop is pleased to announce continued positive operating income of
$38,518 and EBITDA of $77,131 during the quarter due to management's
sustained focus on improvements in its retail, wholesale and credit
"We have accomplished many of our early goals," said Rajiv Jagota,
President CEO, Telehop. "We now have a platform from which to become
much more aggressive in the market. The recent landmark agreement we
reached with TELUS is a clear example of our ability to chart our own
course and create our own opportunities."
During the third quarter, Telehop saw EBITDA rise to $77,131 from
$(81,517) during the same period last year. Operating income grew to
$38,518 from $(122,071) a year ago. EBITDA year to date is positive
$63,156 vs $(290,336) in 2011.
Company highlights during the quarter include:
-- A 5-year, 25 million dollar agreement with TELUS for the
introduction of North America's first dial around service for
mobile phones. Telehop launched its new #100 mobile service on
the TELUS network for all TELUS prepaid and post-paid customers
-- 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 initiated a national rebranding effort aimed at
strengthening the Telehop master brand in existing and new
consumer markets in Canada. This effort will continue through
to the first quarter of 2013.
A complete financial reporting package, including the 2011 Audited
Annual Consolidated Financial Statements and Notes to the Financial
Statements and MD&A, is available at our corporate website (www.telehop.com), at SEDAR website www.sedar.com or via email to email@example.com or via phone at 416-494-4490.
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its plans
constitute "forward-looking statements" within the meaning of Canadian
securities laws. By their nature, forward-looking statements require
the Company to make assumptions and are subject to inherent risks and
uncertainties. The forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any performance or achievement expressed or
implied by such forward-looking statements. We direct you to our
Company's Management's Discussion and Analysis filed for the period
ended December 31, 2011.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Telehop Communications Inc. (TSX-V: HOP) was founded and headquartered
in Toronto, Ontario in 1993, and has grown into one of the largest
alternative telecommunications providers to both residential and
Telehop originally began offering residential and business two-way
monthly 'flat rate' calling services in the Greater Toronto area
between communities where a call would otherwise be a long distance
call. In 1994, Telehop became one of Canada's few Equal Access Long
Distance Providers, allowing it to offer its customers full service
long distance calling globally at significantly lower rates. The
Canadian Radio-television and Telecommunications Commission ("CRTC")
has licensed Telehop as a Class "A" telecommunications carrier.
Telehop's dedication and priority is providing residential and
businesses with exceptional phone services at competitive rates without
sacrificing quality service.
SOURCE: Telehop Communications Inc.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/November2012/13/c7649.html
SOURCE: Telehop Communications Inc.
Mr. Rajiv Jagota President and CEO (416) 494 4490 firstname.lastname@example.org
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