Losses halved

Ottawa-based RAMTelecom Inc. cuts losses by half in Q3, as revenue jumps 42.5% on bolstered sales. The satellite services company beat back losses RAMTelecom.jpgto $260,233 from $479,450 a year ago. Revenue rose to $1.3 million from $885,733 in the third quarter of 2006. “We are very pleased with the corporation’s progress and increased revenues over the past year,” says RAMTelecom CEO Ralph Misener. “Expansion into underserved markets increases on a monthly basis as the demand for carrier-grade satellite services grows.” The company has been enjoying increased demand for its fixed and mobile satellite-based communications services coming from the oil and gas and mining sectors in western Canada.

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