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Telehop Communications Reports First Quarter 2010 Financial Results

^{Published on 2010-05-21 07:05:13 - 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.