Platinum Communications Corp. (PCS.V: Quote) reported that its first-quarter net income rose to C$219,708 from C$71,156 in the year ago quarter. On a per share basis, net income for the quarter was C$0.0040, up from C$0.0013 last year.
Revenue for the quarter increased 22% to C$1.96 million from C$1.61 million in the same quarter last year. The company stated that the acquisition of two competitors in the previous year contributed 79% to this increase and accelerated activity with its commercial clients provided the balance of the increase. In addition, the acquisitions increased Platinum’s customer base by over 1,700 customers to a milestone of 10,150 customers now serving 180 communities.
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by RTT Staff Writer
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