Smart phones, more choice, fuel retail sales at Glentel

BURNABY, B.C. – Consumer demand for smart phone technology coupled with more choices in mobile phone devices helped to drive up Glentel’s consolidated sales by 7% for 2009.Sales for the year ended December 31, 2009 were $308 million compared to $289 million for 2008. Operating income before impairment of goodwill, interest and taxes grew 19% to $24.5 million compared to $20.6 million last year. Consolidated net income was $15.95 million compared to $9.52 million in 2008 (or $14.14 million before a goodwill impairment write-down last year).“I am pleased with the growing success of Glentel and its operating results, in spite of...