Prestige cuts workforce after poor Q1

MONTREAL – Prestige Telecom has undertaken what it calls “cost-cutting measures” after recording a net loss of $1.93 million for its second quarter ended September 30, 2010.Despite sales of $38.6 million for the quarter, an 11% increase compared to $34.8 million a year ago, gross margin fell to $8.1 million (21% of sales), down from $8.8 million (25% of sales) last year. EBITDA was $2.6 million (7% of sales), compared to $3.4 million (10% of sales) in the same period last year."We are pleased with our record sales numbers, which show substantial organic growth and improved market share in the...