NUVO numbers down

Software and managed services company NUVO Network Management Inc. suffers a drop in profit and revenue in Q3 as a result of the strong Canadian dollar. Profits were more than halved to $52,520 from $119,630, and total revenue fell 3.7% to $4.1 million. “[The dollar’s rise in Q3] had a negative impact on revenue of $160,000 and a positive impact on costs of $50,000.” says CEO Carl Smith. “It also resulted in realized and unrealized foreign exchange losses of $78,000.”

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