Sudatel Telecommunications Group Limited Reports Earnings Results for the Quarter Ended March 31, 2018
Sudatel Telecommunications Group Limited reported earnings results for the quarter ended March 31, 2018. For the period, revenues from operation were $89,826,824 compared to $122,664,053 a year ago. Net operating profit was $17,002,199 compared to $19,332,520 a year ago. Net income was $10,413,504 compared to $10,535,560 a year ago. Earnings per share were $0.0344 compared to $0.0348 a year ago. Capital expenditure was $4 million. This was largely due to currency devaluation as the company actually recorded 46% growth in operating revenue in local currency. Profit before tax was $13,332,902 compared to $14,868,069 a year ago. Net cash flows used in operating activities was $38,938,307 compared to net cash flows from operating activities of $26,653,279 a year ago. Purchase of property plant and equipment of $2,889,321 compared to $22,340,293 a year ago. Addition of intangible assets of $1,000,000 compared to $1,309,909 a year ago.