Glentel Inc., a B.C.-based seller of wireless telecom products for consumers and businesses, reported its third-quarter profit rose 30 per cent on higher sales.
Glentel said Friday it earned $1.97-million or 19 cents a share for the three months ended Sept. 30. That compared with a profit of $1.5-million or 15 cents a share for the same 2005 quarter.
Sales increased 16 per cent to $47.9-million from $41.4-million, with growth in the company's two main units, its cellphone retail store division and business products operation, which sells radio systems, satellite network services and other products.
The business division's growth in sales was helped by the strength of the oil and gas sector in Alberta and northeastern British Columbia as well as the acquisition of Digital Mobile Systems Inc., a company based in southern Ontario.
"Our third quarter has always been our second-strongest quarter and includes the back-to-school cellular demand," Thomas Skidmore, Glentel's president and chief executive, said Friday.
"Our customers have responded well in all our stores during this period. We are very encouraged with our positioning in the markets we serve, and are looking forward with anticipation as our strongest selling season of the year approaches. In our business division, consolidation within the mobile wireless voice and data communications sector will strategically position Glentel as a national sales and service leader in engineered wireless solutions."
Glentel is a wireless products provider operating 169 corporate stores through its retail and business divisions, under the Glentel Wireless, WirelessWave, The Telephone Booth, La Cabine Telephonique and Wireless etc. brands.
The company had 2005 revenues of $146.5-million and employed 950 people at the end of the year.Report Typo/Error
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