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Telehop announces positive third quarter 2012 financial resultsTORONTO, 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 portfolio performance. "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 in September. -- 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 protected] 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. ____________________________ About Telehop 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 business customers. 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 [email protected] |