Prestige cuts net loss during "milestone year"

MONTREAL – Prestige Telecom inched closer to the black after cutting its net loss by more than $10 million during its 2010 fiscal year.The company recorded earnings before income taxes of $0.6 million for the year ended March 31, 2010, compared to a loss of $10.5 million a year ago. However, because some of its subsidiary companies were profitable, it recorded an income tax expense of $1.4 million in fiscal 2010, resulting in a net loss of $0.8 million compared to a net loss of $11.5 million last year.Sales were $124.2 million, an increase of 87% compared to $66.5 million a year ago....