Vecima sees "signs of recovery" in Q1

VICTORIA – Manufacturer and cable operator Vecima said that it is beginning to “see signs of recovery” while reporting its 2010 first quarter financial results.Revenue increased by 38% to $28.4 million in the quarter ended September 30, 2009, compared to $20.5 million in the previous quarter, while net income dropped to $1.2 million compared to $7.8 million in Q1 last year, largely due to the decrease in sales.“This is an indication of the initial stages of recovery and is in line with a general strengthening of forecasts," said Dr. Surinder Kumar, chairman and CEO, in a statement.Gross margin in first quarter...