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 million or 39.2% compared to a $1.37 million or 36.3% for the same quarter in 2008. This was a result of increased revenue per minute and lower direct costs due to a strengthening of the Canadian dollar relative to the U.S. dollar, the company said. Year-to-date margin has shown a 5% increase to 42.4% over 2008.
