RAMTelecom suffers net loss of $1.98M, finalizes sale to OmniGlobe

OTTAWA - Satellite voice and broadband provider RAMTelecom realized a net loss of $1.98 million for 2008, more than half a million more than its net loss at the end of 2007. Revenues for the year ended December 31, 2008 were $4.38 million, down slightly from $4.42 million in the year prior. The revenue decrease combined with a lower cost of sales saw gross margins increase to $1.37 million, from $1.21 in 2007. The company recorded a write-down of the value of its goodwill by 50%, or $1.06 million, which it said was due to “the impairment determined from difficulties raising...