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Lite Access revenues grow as it ups product offering

The firm swung to a C$1.6mln loss from a C$31,000 profit the year before as it looks to increase its product offerings.

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Lite access uses micro-trenching technology, which cuts a one-and-a-quarter inch wide by 14-inch deep gap to fit fibre optic cables

Fibre optic broadband infrastructure specialist Lite Access Technologies (CNSX:LTE) continued to see healthy sales growth in 2015.

The company released full-year results, which shows sales rose to C$1mln from C$854,000 and have more than doubled from the C$400,000 made in 2013.

Lite Access also improved its cash position in the year to September 30, upping its reserves to C$269,000 in 2015 compared to C$57,000 at the end of the financial year 2014.

The firm swung to a C$1.6mln loss from a C$31,000 profit the year before as it looks to increase its product offerings.

Lite access uses micro-trenching technology, which cuts a one-and-a-quarter inch wide by 14-inch deep gap to fit fibre optic cables.

The significantly cheaper, and less disruptive, method allows the firm to place up to 500 metres (m) of fibre a day at around a third of the cost of traditional methods.

It then uses compressed air through tube systems to blow the fibre to its end point.

It recently announced a move to the UK market, with a trial with ScottishPower.

Shares were 1.9% higher to C$1.08. 

Quick facts: Lite Access Technologies

Price: 0.76 CAD

TSX-V:LTE
Market: TSX-V
Market Cap: $45.51 m
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Lite Access chief expects consistent growth after strong second quarter

Mike Plotnikoff, chief executive and co-founder of Lite Access Technologies Inc (CNSX:LTE), says the firm’s micro trenching technology is “the most successful means of putting fibre into the ground today”. Last month, the company reported sales for the first three months of 2016...

on 06/20/2016

2 min read