(TheNewswire)
Kelowna, BC - TheNewswire - November 30, 2023 - Total Telcom Inc.(TSX.V:TTZ) (OTC:TTLTF) (“Total Telcom” or the “Company”), a leading developer and provider of remote asset monitoring, tracking, control and communication solutions, today announced financial results for its first quarter of Fiscal 2024 ended Sept 30, 2023.The financial statements and related Management's Discussion and Analysis ("MD&A") can be viewed on SEDAR at www.sedar.com
First Quarter 2024 Highlights
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Revenue of $342,346;
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Hardware revenue of $71,184;
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Communication or recurring revenues of $168,107;
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Gross profit of $199,346;
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Cash provided by operating activities of $280,737;
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Net loss of ($16,262).
Neil Magrath, CEO of Total Telcom commented, “This quarter reflects a cyclical dip in RV manufacturing over the summer months, and combined with the timing of RV controller orders, contributed to a slower than anticipated quarter. However, there continues to be strong commercial interest in our RV products which is demonstrated by a third follow-on order subsequent to the quarter end, which has not yet been accounted for in our quarterly results. We continue to focus on expanding our partnerships with our current distributors while cultivating new relationships with additional RV manufacturers and distributors interested in our RV solutions. We have recently experienced an uptick in interest for our Racing-TraX solutions, and we believe this segment is positioned for a record year. Groundwork has also been laid for our Water-TraX products: we’ve received validation of the product’s effectiveness and a first order from a department of the US Armed Forces, and we have also recently forged our first white label manufacturing agreement.”
Consolidated Statements of Income and Comprehensive Income
For the Quarter Ended September 30, 2023
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Consolidated Financial Statements of Financial Position
For the Quarter Ended September 30, 2023
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Consolidated Statements of Cash Flows
For the Quarter Ended September 30, 2023
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About Total Telcom
Total Telcom, through its wholly owned subsidiary ROM Communications Inc. (ROM) is a leading developer and provider of remote asset monitoring, tracking, control, and communication products and services.
Total Telcom has a client first history and is known throughout the industry for its innovative advanced technology solutions. The Company is uniquely positioned to deliver solutions that enable its customers and clients to cost-effectively oversee, remotely monitor, track, control and communicate with their fixed and mobile assets.
These modules are wireless modems that utilize microcomputers integrated with sensors, GPS engines, WiFi, RFID and various inputs and outputs. User interface requires NO special APPs or equipment as configuration is facilitated through a wireless WiFi connection to any smartphone, tablet, laptop, or datalogging firmware by the user through the Internet. ROM is an authorized airtime reseller and hardware developer for satellite, cellular and wireless IP Networks.
Total Telcom offers its customers a suite of products and solutions that are based on proprietary hardware and software. The Company’s business model allows it to generate multiple revenue streams through the sale of both hardware (products) and recurring monthly service fees (monitoring, tracking, control, and data management). For additional information on Total Telcom, visit www.totaltelcom.com
Contact Information
Neil Magrath, CEO
neil@totaltelcom.com
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