Telecarrier to reduce net loss in 2005

6 May 2005

Panamanian start-up Telecarrier has revealed plans to reduce its net loss for 2005 by 62.5% to USD1.8 million, compared to USD4.8 million in 2004. The company had expected the 2004 loss due to the depreciation of the USD50 million in investments made during the year. It expects sales to increase by 38% to USD29 million in 2005, and EBITDA to soar by 148% to USD5.7 million. At the end of 2004 Telecarrier had 31,000 residential long-distance subscribers and 1,200 corporate clients, as well as around 30,000 carrier pre-selection customers.

Panama