Webtech Wireless Inc. (WEW.TO: Quote) reported that its fourth-quarter net loss narrowed to C$934 thousand from C$8.24 million in the year ago quarter.
Total revenue increased 4% to C$11.4 million compared to C$11.0 million in the same quarter last year. The increase in revenue in the quarter compared to the prior year is the result of an increase in recurring revenue particularly due to sales of Quadrant transportation solutions, sales in the theft recovery segment and several large NextBus projects that were implemented in 2011.
by RTT Staff Writer
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