VICTORIA – Revenues for VCom, which owns the YourLink wireless Internet service and some smaller cablecos across Canada, rose 27% in fiscal 2006 compared with the previous year, the company reported.
Total revenue for the year ended June 30, 2006 were $80.0 million.
The firm, which also designs, manufactures, and sells products that enable broadband access to cable, wireless, and telephony networks, says that increased productivity and economies of scale allowed it to boost sales and maintain its gross profit margin of 38%. If it weren’t for the strong Canadian dollar, year-over-year growth would have been more than 40% in the 2006 fiscal year, it says.
Net income for the 2006 fiscal year was $10.6 million or $0.50 per share. Excluding the effects of non-cash stock based compensation expense, adjusted net income for the 2006 fiscal year was $11.6 million or $0.55 per share.
Shareholders’ equity almost doubled to $76.4 million, up from $38.5 million the year before, a result of operating profits and successful completion of VCom’s initial public offering.
In the third and fourth quarters of fiscal 2006, YourLink reported a positive EBITDA.
It was VCom’s first annual report filed as a public company.
