Prestige Telecom's Q1 "below expectations"; COO departs

MONTREAL – Despite an increase in sales, Prestige Telecom recorded a $0.4 million net loss for its first quarter of fiscal 2011 ended June 30, 2010.For the same period in 2009, the company reported net earnings of $0.1 million. EBITDA for this quarter was $1.7 million, compared to $3.0 million last year.Prestige posted sales of $33.5 million this quarter, up 7% from $31.1 million a year ago, which it said was mainly due to its acquisition of Majetel Inc. in April in addition to “organic growth”. Revenues for its construction segment were up 28% to $18.6 million on the strength of significant...