ATC 2.86% 6.8¢ altech chemicals ltd

re: Penny dreadful soon?, page-4

  1. 484 Posts.
    re: Penny dreadful soon? Dear Laurra,

    'tis my problem - I only have half a brain.

    Anyway:

    ADVANTAGE TELECOMMUNICATIONS LIMITED 2002-10-07 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Q1 REVENUES

    Advantage Telecommunications Limited (AdvanTel) (ASX: ATC) today
    announced Q1 revenue for the first quarter of US$2.3m. Q1 revenues
    were up approximately 70% on the previous quarter, exceeding annual
    revenues for the previous financial year by approximately 12%.

    Mark Stewart, Chief Executive Officer, AdvanTel said, "We are
    delighted to post another quarter of strong revenue growth despite a
    rare undersea earthquake that effected many international telecoms
    networks in the Asia region during late August and deferred some
    increase in revenue to the next Quarter".

    He continued, "Quarter 2 will see continued strong revenue growth as
    the value of the new customer connections deliver increasingly large
    traffic volumes onto the AdvanTel network. AdvanTel expects to become
    EBITDA positive during this Quarter 2".

    QUARTER 1 CUSTOMER UPTAKE AND CONNECTIONS

    AdvanTel signed up an additional 23 customers taking the company
    order book to a total of 78 customers.

    Mark Stewart said, "AdvanTel is witnessing increasingly strong growth
    in order uptake as awareness of the Company's Eurasian proposition
    spreads. We are inundated with interested potential customers but we
    are only contracting those customers that fit our credit criteria and
    present real value to our business. We will not allow customer demand
    to compromise this approach".

    AdvanTels revenues were achieved with an associated bad debt to
    revenue ratio of just 0.11% for the last 12 months.

    AdvanTel also significantly reduced its order back log connecting an
    additional 34 new customers taking the total of customer connections
    to 62. Many connections were made at the latter part of the quarter
    following the successful commissioning of AdvanTel's new London
    switch in August. The full revenue value of these connections should
    be realized in Quarter 2. Revenue for the last day in September was
    US$44,000.

    FNT UPDATE

    The company will be pleased to advise shareholders on the progress of
    the FNT transaction shortly.

    Notes to Editors:

    For further information please contact:

    Mark Stewart
    CHIEF EXECUTIVE OFFICER
    Advantage Telecommunications Limited
    [email protected]
    0011 44 207 464 4430

 
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