Australian telecommunications wholesaler Eftel has bounced back a bit from its half-year results, but the company's increased revenues for the 2011-12 financial year were not enough to recover from the write-down of the company's BroadbandNext DSLAM network equipment.
The broadband wholesaler reported late on Friday that it experienced a massive jump in revenues from AU$29.2 million in the 2010-11 financial year to AU$58 million in the 2011-12 financial year. But anat the end of 2011 had led to the company reporting an overall loss for the year of AU$2.08 million.
At the time, the board decided to write down the equipment as being "impaired."
The jump in revenues came following the acquisition of retail broadband company ClubTelco and Platform Networks. In June, Eftel also acquired West Australian Networks, and in August the company bought Visage Telecom for AU$450,000.
Eftel CEO Scott Stavretis said that the company is in a good position to continue growth.
"We have been able to grow in all three of our market segments, being consumer, corporate, and wholesale, whilst paying off debt and integrating our acquired businesses," he said in a statement. "This has positioned us well to continue our growth strategy over the coming years, while ensuring the company has a stable platform for ongoing organic growth."