BURNABY – Glentel saw its second quarter earnings jump 64% driven largely by smart phone sales, the company said Thursday.
Net income for the quarter was $6.19 million, almost double $3.76 million from last year. Consolidated sales for the three months ended June 30th were up 75% to $137.9 million, compared to $78.9 million in the same period of 2010.
Sales of retail mobile phone products and services in the Retail Canada division grew 30% to $90.1 million, while the U.S. division recorded sales of $39.5 million for the quarter.
"Smart phone sales continue to drive sales and profits in both our retail divisions," said president and CEO Thomas Skidmore, in a statement. "We are very pleased with our record increases in revenues and earnings."
Business Division sales of terrestrial narrowband and broadband radio systems, satellite network services, and implementation services were $8.35 million, down from $9.68 million year-over-year.
