Sales up at Mitec Telecom, but net loss still recorded in third quarter

MONTREAL – Mitec Telecom on Thursday reported increased sales of $9.8 million, but the company still recorded a net loss of $1.4 million in the third quarter ended January 31, 2008. Third quarter sales were $8.5 million in the same quarter of 2006, while the net loss was a higher $2.6 million. Operating expenses were $2.6 million in the quarter compared with $3.3 million in the same quarter a year before. “Mitec continues to deliver on its strategic objectives, which include expanding our existing products into new markets and working with current and potential customers to prove our capabilities as...