Global Traffic Network Q3 Revenues Up But Loss Widens
May 13, 2009 at 5:14 AM (PT)
GLOBAL TRAFFIC NETWORK fiscal third-quarter revenues rose 2.5% to $12.5 million, driven by a $2.6 million increase from U.K. operations, including $900,000 from its contract with BRITAIN's HIGHWAYS AGENCY and $1.7 million from new acquisitions, offset slightly by a $400,000 decrease in revenues from its Canadian operation.
Revenue increases of 11.7% in AUSTRALIA were offset by exchange rate declines. The company's net losses widened from $200,000 to $1.8 million (1 to 10 cents per share).