Quadtel, a supplier of ADSL hardware to the ISP market, has posted a loss of $3 million for the 2002 financial year. The figure is a 79 per cent improvement on the previous year's $14.5 million loss. The company announced revenue was up 212 per cent to $18.5 million, and is expecting that 2003 will bring Quadtel's first year of profit.
The past year has seen Quadtel make a number of important deals in the telecommunications industry, including becoming the exclusive supplier of hardware to OzEmail and securing a retail partnership with Harvey Norman to sell DSL subscriptions. The financial results herald a bright future for the company's new leadership; only weeks ago Bruce Ind stepped into the shoes of former CEO Rod Orrock, while Paul D'Ambra took up the new position of head of sales and marketing.
Ind is looking forward to bettering this year's results. "What we've been able to achieve in the last year is to write back a lot of problem areas," he said. "Now we can go forward with a clean slate. We've got a lot of new vendors coming on board, including a couple of significant players in the US and European markets."
Closer to home, Ind was philosophical about the continuing rollout of ADSL services. "It's not as buoyant as some other countries," he said, "but given the inherent difficulties of the problem I think Australia is doing well."