BURNABY, B.C. – Sales for wireless retailer company Glentel remained strong for a second consecutive quarter, as the company reported $320.8 million in consolidated sales for the second quarter of 2013, a $15.1 million increase over the previous quarter and a 122% increase compared to the same period a year earlier.
Much of the second quarter sales growth came from Glentel’s Canadian retail stores, which brought in $98.8 million in sales, up 14% from the $86.5 million reported for the second quarter in 2012. Glentel completed the second phase of its Target Mobile rollout during Q2 2013, opening a total of 24 new stores in British Columbia, Alberta, and Manitoba, with plans to open more than 124 stores in Canada by the end of the year.
EBITDA for the second quarter was $11.9 million, compared to $10.8 million in the same period a year earlier. Glentel’s net income also increased to $5.6 million and $0.25 per share, compared to $5.1 million and $0.23 per share.
In a company release, president and CEO Thomas Skidmore attributed the growth to several factors, “with the expansion of our geographic footprint being the catalyst.”
In addition to the new Target Mobile locations in Canada, Skidmore said, “We have seen strong results from our retail U.S. divisions, and look forward to operating 154 existing store-in-store mobile phone kiosks with our new partner, BJ's Wholesale Club Inc., beginning August 1, 2013. Retail Australia has continued to focus on its Southeast Asia expansion, operating nine Allphones retail locations in the Philippines at June 30, 2013. Through the remainder of 2013, we will continue to seek organic growth in all our global divisions.”
Glentel’s Diamond Wireless sales in the U.S. increased 19% to $60.3 million in the second quarter, compared to $50.7 million. Retail sales for its Wireless Zone stores were at $113.6 million.
Internationally, Glentel’s Australian sales of retail mobile phone products, tablets and services were $40.9 million, a decrease of $4.7 million from the previous quarter. The company said its Australian outlets have faced stiff competition from Australia’s national wireless carrier, and have also been impacted by the loss of the Virgin Mobile Australia brand in its Allphones retail stores in June 2013.
