Australian telecommunications services provider, Anittel, recorded a net loss of $915,000 for the first half of the 2014 financial year, ended December 31, 2013.
In the previous corresponding period, the company lost $5,939,000.
Revenues from ordinary activities were down 5.5 per cent to $25,290,000. No dividends were paid, recommended or declared during the half.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was $299,000, an improvement over Anittel’s first half 2013 result of $123,000.
In December last year, Anittel sold its hosting and infrastructure arm to Big Air for $6.5 million. According to a statement to the ASX, this has allowed it to invest further on driving profitable growth in hosted collaboration services (HCS) and ICT services, reflected in the EBITDA.
The services provider recorded 385 per cent revenue growth from its Cisco HCS offering, and its Tasmanian Government HCS project is ahead of schedule with more than 4000 services deployed at December 31.
The statement also claims revenue from hardware and software products has stabilised with margins up by 31 per cent.