New data centres eat in to 2013 profits at TeraGo

TORONTO – Revenues were up but 2013 profits dropped 11% year-over-year at TeraGo due in part to fourth quarter losses.The company posted annual revenues of $51.4 million for the year ended December 31, 2013, up 5% over $49.2 million in 2012, however, net earnings fell from $4.9 million in 2012 to $4.3 million. EBITDA was $16.5 million for the year, up 8% over $15.3 million in 2012.Net loss for the fourth quarter was $734,000, versus net earnings of $3.2 million for the same period in 2012. The company said the loss was principally due to $1.3 million in costs incurred...