BURNABY – The busy back-to-school season helped drive up sales 18% year-over-year at Glentel.
The wireless retailer reported sales for its third quarter ended September 30th were $96.9 million, up from $81.9 million in the same period of 2009, while income before interest, taxes and amortization was $11.2 million compared to $10.4 million.
Operating income before interest and taxes for the three months was $9.2 million compared to $8.8 million last year, while net income was $6.5 million, up from $5.8 million.
"We are delighted to report increased sales and earnings performance in our third quarter that included significant sales from back-to-school activity”, said president and CEO Thomas Skidmore, in a statement. "We anticipate strong sales and earnings in the fourth quarter from our newly acquired U.S. mall stores and our Canadian mall stores as we approach our high-activity U.S. Thanksgiving, Christmas and Boxing-week selling season."
Glentel completed its purchase of U.S. retailer Diamond Wireless early last month. The company currently operates more than 280 stores across Canada located primarily in retail malls and Costco Wholesale, as well as 132 mall stores in the U.S., under the names WirelessWave, Wave Sans Fil, Tbooth wireless, la cabine T sans fil; Wireless Etc., Sans Fil Etc., and Diamond Wireless: Verizon Premium Retailer in the U.S.
