Telehop sees $1.3M net loss in 2008

TORONTO - Telecom provider Telehop Communications recorded a $1.3 million net loss for 2008. Revenue for the year ending December 31, 2008 was down 9% to $16.4 million, compared to revenue of $17.9 million for 2007, which the company said is attributable to a reduction in its retail and wholesale long-distance business. Gross margin as a percentage of revenue decreased 3.9% for the year, from 41.3% in 2007 to 37.4%, which the company’s press release explained was as a result of “the competitive nature of our industry” (Telehop said it reduced rates and lines of business in certain markets to...