newsGlentel reports 27% rise in same-store cellphone sales at WirelessWave
1/8/04
BURNABY, B.C., Jan 08, 2004 (The Canadian Press via COMTEX) --
Glentel Inc. has reported a 27 per cent rise in holiday-quarter same-store sales at its WirelessWave cellphone stores across Canada.
The increase in cellular activations, following flat same-store activations in the previous quarter, 'met manageme
nt expectations for the quarter,'Glentel stated Tuesday. It said nothing about profits in the October-December period.
Glentel also confirmed it has closed the previously announced purchase of Mobilcom Wireless Inc., an Edmonton voice and data wireless communications integrator. The price was not disclosed.
In the third quarter of 2003, the company (TSX:GLN), which has 10 Glentel Wireless Business Centres and 69 WirelessWave mall stores, increased its sales by 24 per cent from a year earlier to $18.8 million, and earnings more than doubled to $769,000.
Glentel, a dealer for Rogers Wireless, Bell Mobility, Fido, Motorola, Telesat, Globalstar and others, said in November that third-quarter same-store cellular activations at WirelessWave were little changed from a year before, although the division's sales rose 38 per cent on 14 more outlets.
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