Cable / Telecom News

Vecima Q3 profits drop 30%

VICTORIA – Vecima said that the strengthening Canadian dollar was partially to blame for a 30% drop in its profits.For the third fiscal quarter ended March 31, 2010, the manufacturer and cable operator reported a net income of $871,000, compared with $1.2 million in the same period in 2009.But revenue was up 49% to $30 million compared to $20.1 million in the same quarter last year. Operating expenses for the three month period were $10.7 million, or 36% of sales, compared to $8.3 million, or 41% of sales, for the three months ended March 31, 2009.Chairman and CEO Dr. Surinder Kumar...