Telehop reports $1.3M net loss for 2009

TORONTO – Despite on-going efforts to reduce operating expenses, telecom provider Telehop Communications posted a net loss of $1.37 million for 2009. The loss is slightly greater than its net loss of $1.34 million for 2008. Year-to-date revenue for the year ended December 31, 2009 was $13.40 million, compared to revenue of $16.38 million last year. The company reported revenue of $806,341 or 21% less quarter for quarter, which it attributed to a reduction in retail long-distance business of $651,703 and a reduction in its wholesale long-distance business of $154,638.Telehop reported a gross margin for the fourth quarter of $1.16...