WINNIPEG – The losses at Craig Wireless Systems continue to mount.
For the year ended August 31, 2009, the company reported a net loss of $10.87 million, more than $3 million greater from the $7.76 million that it lost in the previous year. Revenues for the year were $1.70 million, compared to $1.86 million in 2008.
"The company has focused on operating more efficiently, the full impact of which we anticipate will be realized in Fiscal 2010," said co-CEO T. Boyd Craig, in the brief press release. "We have redirected our efforts to take advantage of the enterprise business customers’ need for reliable high speed broadband by launching new networks in the near term."
Craig added that the company’s investments in its spectrum assets and WiMAX 4G technology “have the potential to have a significant positive impact on our future and our standing in the global telecommunications marketplace."
