Platinum Communications Corp. announced financial results for the three months ending Nov. 30, 2013 . In a release on Jan. 17 , the Company noted highlights for the three months that include: -Platinum's revenues from operations for the three months ending Nov. 30, 2013 , increased 24 percent compared to the same three month period of fiscal 2012. The acquisition of two competitors in the past nine months contributed the majority of the increase and accelerated activity with our commercial clients provided the balance of the increase. In addition, the acquisitions increased Platinum's customer base by over 2,000 customers to 12,258 customers now serving 180 communities. -Gross profit increased by 16 percent. Earnings before interest, tax, depreciation and amortization decreased due to additional employees, increased operating costs and transaction costs related to the acquisitions. -Cash provided by operating activities was $378,478 in Q1 2014 compared to $468,549 in the same quarter of fiscal 2013, a decrease of 19 percent. Platinum recorded Net Income of $116,389 for the first quarter of fiscal 2014 a decrease of 47 percent over the net income recorded in the same quarter of the previous year. -As of the date of this release Platinum has approximately $502,000 of available cash. Platinum is a provider of fixed wireless Internet and Broadband solutions in Alberta . Based in Calgary , Platinum operates a wireless broadband network that utilizes Next-Generation Wimax technology to bring Internet and digital phone service to residents and businesses across the province. Serving approximately 12,000 customers in over 180 communities, Platinum caters primarily to rural and near-urban markets that are often beyond the reach of traditional Internet providers. More information: www.platinum.ca ((Comments on this story may be sent to email@example.com ))
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