Q2 net loss helps spur "strategic initiative" at Telehop

TORONTO – Despite second quarter revenue of $3.5 million, Telehop reported a net loss of $243,000 for the quarter ended June 30, 2009.The telecom provider also announced plans to undertake a “strategic initiative” which its says will help to increase the value of the company over the long term.Revenue was $688,577 or 16.2% less quarter for quarter, which Telehop attributed to a reduction in its retail long-distance business of $628,542, and a reduction in its wholesale long-distance business of $60,035. Year to date revenue was $7,039,243 with a net loss of $573,607, compared to revenue of $8,621,861 and a net...