Mitec credits senior management for Q3 results

MONTREAL – While its quarterly revenue dropped, Mitec Telecom reported a 32% growth in year-over-year revenue for its third quarter of fiscal 2009. Revenue on a year-to-date basis was $33.4 million, compared with $25.4 million in the same period in fiscal 2008, said the press release announcing its results for the three month period ended January 31, 2009. But revenue for the quarter was $7.9 million, compared with $9.8 million for the third quarter of fiscal 2008, and EBITDA was $64,000, compared with $198,000 in the same period in fiscal 2008. Gross profit for the quarter was approximately 24%, compared...