Cable & Telecom

Gains in revenue, sales can’t offset Glentel’s $4.6M loss for 2014

BURNABY, BC - While sales climbed 21% and global revenues hit $1.65 billion in 2014, Glentel ended the year with a net loss of $4.6 million.That’s a far cry from the $4.6 million in profits recorded in 2013, and the wireless retailer also reported consolidated adjusted net income of $20.1 million versus $25.0 million year-over-year.  EBITDA dipped 1% to $54.3 million from $54.6 million last year, and EBIT decreased 2% to $ 27.5 million compared to $28.2 million in 2013. Sales for 2014 were $1.65 billion, up 21% from $1.37 billion in 2013.  Glentel consolidates sales results from its Retail Canada Division, its...