Eftel posts $3.1m half-year loss

Summary:Broadband wholesaler Eftel has reported a half-year loss of $3.1 million due to writing down its BroadbandNext DSLAM equipment, worth $3.9 million.

Broadband wholesaler Eftel has reported a half-year loss of $3.1 million due to writing down its BroadbandNext DSLAM equipment, worth $3.9 million.

The company stated in its financial report released yesterday that the board viewed its BroadbandNext DSLAM network equipment as being "impaired", and wrote down the assets at the end of 2011.

But behind the loss, the company also reported a massive boost in revenue, up from $13.5 million in the first half of 2011 to $28.2 million in the second half. This was due to the ClubTelco merger and the acquisition of Platform Networks in August last year.

The merger has boosted Eftel's customer base to 120,000, and CEO Scott Stavretis said that the company is now pulling in more than $1 million in revenue per week.

The company also raised $2.6 million in new equity in this period that has been used to build sales for the ClubTelco consumer division.

Topics: Broadband, NBN, Telcos

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Armed with a degree in Computer Science and a Masters in Journalism, Josh keeps a close eye on the telecommunications industry, the National Broadband Network, and all the goings on in government IT.

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