OTTAWA – Satellite broadband provider RAMTelecom reported a decrease in third quarter revenues and another year of negative cash flow.
Third quarter revenues of $1,195,740 decreased by 5% from $1,262,505 in revenues reported for the second quarter of 2007, and cash flow was negative $26,306, compared to a negative cash flow of $72,515 for the same period last year, the company reported.
Gross margin increased by $15,942 or 4% over the same period in 2007, due to higher margin recurring revenue satellite services, secured through long-term customer contracts and Linkstar product sales.
"RAMTelecom’s third quarter 2008 financial results reflect management’s on-going focus to build the Corporation’s recurring revenue-based satellite services," said Ralph Misener, CEO. "We have made positive gains compared to the same period in 2007, even with a marginal decrease in top line revenues. The Corporation improved its gross margin percentage and increased cash flows."
