Continued positive operating income and EBITDA
growth
TORONTO, Nov. 13, 2012 /CNW/ - Telehop Communications Inc.
("Telehop" or the "Company"), (TSX-V: HOP) today announced its
financial performance during the third quarter ended September 30, 2012.
Telehop is pleased to announce continued
positive operating income of $38,518
and EBITDA of $77,131 during the
quarter due to management's sustained focus on improvements in its
retail, wholesale and credit portfolio performance.
"We have accomplished many of our early goals,"
said Rajiv Jagota, President CEO,
Telehop. "We now have a platform from which to become much more
aggressive in the market. The recent landmark agreement we reached
with TELUS is a clear example of our ability to chart our own
course and create our own opportunities."
During the third quarter, Telehop saw EBITDA
rise to $77,131 from $(81,517) during the same period last year.
Operating income grew to $38,518 from
$(122,071) a year ago. EBITDA
year to date is positive $63,156 vs
$(290,336) in 2011.
Company highlights during the quarter
include:
- A 5-year, 25 million dollar
agreement with TELUS for the introduction of North America's first dial around service for
mobile phones. Telehop launched its new #100 mobile service on the
TELUS network for all TELUS prepaid and post-paid customers in
September.
- The Company completed a private placement for the gross
proceeds of CDN $750,000 through the
issuance of 7,500,000 common shares for net proceeds of
$653,024.
- The Company initiated a national rebranding effort aimed at
strengthening the Telehop master brand in existing and new consumer
markets in Canada. This effort
will continue through to the first quarter of 2013.
A complete financial reporting package,
including the 2011 Audited Annual Consolidated Financial Statements
and Notes to the Financial Statements and MD&A, is available at
our corporate website (www.telehop.com), at SEDAR website
www.sedar.com or via email to investorinquiry@telehop.com or via
phone at 416-494-4490.
DISCLOSURE REGARDING FORWARD-LOOKING
STATEMENTS
Certain statements contained herein regarding
the Company and its plans constitute "forward-looking statements"
within the meaning of Canadian securities laws. By their
nature, forward-looking statements require the Company to make
assumptions and are subject to inherent risks and
uncertainties. The forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to
be materially different from any performance or achievement
expressed or implied by such forward-looking statements. We
direct you to our Company's Management's Discussion and Analysis
filed for the period ended December 31,
2011.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
____________________________
About Telehop
Telehop Communications Inc. (TSX-V: HOP) was
founded and headquartered in Toronto,
Ontario in 1993, and has grown into one of the largest
alternative telecommunications providers to both residential and
business customers.
Telehop originally began offering residential
and business two-way monthly 'flat rate' calling services in the
Greater Toronto area between
communities where a call would otherwise be a long distance call.
In 1994, Telehop became one of Canada's few Equal Access Long Distance
Providers, allowing it to offer its customers full service long
distance calling globally at significantly lower rates. The
Canadian Radio-television and Telecommunications Commission
("CRTC") has licensed Telehop as a Class "A" telecommunications
carrier.
Telehop's dedication and priority is providing
residential and businesses with exceptional phone services at
competitive rates without sacrificing quality service.
SOURCE Telehop Communications Inc.