TORONTO – TeraGo Inc. recorded a 14% increase in revenue and a 42% jump in earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter ended June 30.
Net earnings were $700,000 million, compared to a net loss of $400,000 in Q2 2011, while EBITDA was $3.9 million, up from $2.7 million last year.
Revenue topped $12.3 million compared to $10.8 million in the same period last year. The company, which provides small and medium sized businesses with carrier-grade wireless broadband, data and voice communications services, attributed the increase to a greater number of customer locations in service as well as existing customers upgrading their Internet and data connections.
TeraGo said that it added 336 new customer locations this quarter, compared to 266 in the same period last year, to end the period with 6,434 customer locations in service.
"We're pleased with our performance in the second quarter, with record revenue and EBITDA, and strong results in virtually all metrics", said president and CEO Bryan Boyd, in a statement.
