The company, a world leader in microduct and air-blown fibre optic technologies, said that total revenues jumped to C$1.8mln in the quarter ended Dec 31 versus C$813,546 in the same period in 2015.
The first quarter gross margin was 29% versus 10% in 2015.
Financial highlights for the first quarter of 2017:
“We are pleased with our sales results for the first quarter and continue to see good growth,” said Mike Plotnikoff, chief executive officer of Lite Access.
“We made a calculated decision to invest significantly in our U.K. operations given market research and expressed demand for our fibre solutions from service providers and other entities within the U.K.”
He added that subsequently, the move to purchase more equipment and train crews was strategic, giving the firm the ability to scale quickly and meet the expected demand for its leading microtrench and fibre technologies.
“We are confident that our revenue and profit will be positively impacted in future quarters as the results of all our operations begin to be realized,” he said.
Story by ProactiveInvestors