TeraGo reports net loss of $12.4 million

TORONTO - Broadband service provider TeraGo Networks reported a net loss of $12.4 million for its 2008 fiscal year, nearly $7 million more than its net loss in 2007.The company explained the increase as due in part to increased future income tax expenses of $2.6 million recorded in the fourth quarter of 2008, and an increase in amortization of property, equipment and network assets of $2.7 million. TeraGo's total revenue was $31 million for the year ended December 31, 2008, an increase of $5.9 million or 23% compared with $25.1 million of revenue in 2007. The increase in revenue is...