Telehop Communications Reports First Quarter 2010 Financial Results

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Telehop Communications Reports First Quarter 2010 Financial Results

_{//science-technology.news-articles.net/content/2 .. eports-first-quarter-2010-financial-results.html}
^{Published in Science and Technology on Friday, May 21st 2010 at 7:05 GMT by Market Wire}

 Quarterly financial summary - - Revenue for the first quarter 2010 declined $555,408 or 16% compared to revenue of the same quarter 2009 attributable predominately to a reduction in our retail long-distance business. - Gross margin as a percentage of revenue was 40.7% compared to 37.5% for first quarter 2009 an increase of 3.2%. - Operating expenses decreased from $1,776,265 in first quarter 2009 by $433,910 or 24.4% to $1,342,355. The majority of the decrease relates to cost reductions implemented through 2009. - We completed the quarter with $716,001 of cash a reduction of $111,411 for the first quarter.

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