RAMTelecom's Ralph Misener. (Photo by Darren Brown, OBJ)

Satellite service provider RAMTelecom Inc. posted a larger net loss in its first full reporting period as a public company, despite a 30-per-cent gain in revenues.

The Ottawa-based company said it had a net loss of $1.4 million on revenues of $4.4 million. This was compared to the fiscal 2006 profits of its R.A. Misener Telecom Corp. subsidiary of $694,584 on revenues of $3.4 million, as the company had not conducted any revenue-generating business until its June 2006 acquisition of Misener Telecom.

For the six and a half months in its present incarnation, RAMTelecom reported net losses of $962,300 on revenues of $1.8 million.

"Overall, we are pleased with the sales and operations progress of RAMTelecom but still have more work ahead," said RAMTelecom CEO Ralph Misener in a statement, adding that the company expected "positive growth" in fiscal 2008. "Canada's economic development is strong and the need for carrier-grade satellite communications has never been more evident to support remote operations.

The company said its stronger revenues were due to continued penetration into multiple market verticals, including oil and gas, mining, all levels of government, and the newly entered retail market.

As well, despite the usual slowdown in business with the seasonal mining sector in the fourth quarter, the company saw a 42.9-per-cent increase year-over-year in fourth-quarter revenues, to $1.02 million. However, net losses for the quarter, at $517,050, were still wider than a year earlier, when net losses were $484,784.

Gross margin also declined, to 27 per cent from 31 per cent a year earlier.