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Telehop Communications Reports Fourth Quarter and Fiscal Year 2010 Results

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^{Published in Science and Technology on Thursday, March 17th 2011 at 8:45 GMT by Market Wire}  

TORONTO, March 17 /CNW/ -  Telehop Communications Inc. (TSXV: HOP) ("Telehop" or the "Company") is a full-service long distance provider operating within the telecommunications industry and is registered with the Canadian Radio-television and Telecommunications Commission ("CRTC") as a licensed Class "A" Telecom Carrier.

Quarterly financial summary

Revenue for fourth quarter 2010 was $2,868,643 with a net loss of $115,274 or $(0.01) per common share compared to revenue of $2,970,418 with a net loss of $913,379 or $(0.07) per common share for the same quarter 2009. The Company reported a decrease in revenue of $101,775 or 3.4% less quarter for quarter which is attributable to a reduction in our retail long-distance business of $35,160 and a reduction in Telehop's wholesale long-distance business of $66,615. Year-to-date revenue was $11,758,098 with a net loss of $271,393 or $(0.02) per common share compared to revenue of $13,397,801 with a net loss of $1,374,312 or $(0.10) per common share for 2009.

Telehop reported a gross margin for the fourth quarter of $1,303,306 or 45.42% compared to $1,165,108 or 39.22% for the same quarter in 2009. This was a result of lower direct costs due to product mix and a strengthening of the Canadian dollar relative to the United States dollar. The year-to-date margin has shown a 0.79% increase to 43.19% over 2009.

A complete financial reporting package is available on Sedar [ http://www.sedar.com ] or by contacting the Company [ http://www.telehop.com ] .

Certain statements in this press release may constitute "forward looking statements" and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any performance or achievement expressed or implied by such "forward looking statements".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release