• December 5, 2022

Hallenstein Glasson FY Profit Rises 15 Percent, Meeting Guidance; Stock Gains

US telecommunications company Craig Wireless Systems has lifted its stake in local web service provider Woosh Wireless to 75 %. The Canada-based company elevated its interest in Woosh from 51 percent after acquiring additional fairness held as treasury inventory, Craig Wireless mentioned in a press release. The US agency purchased Woosh for US$5.5 million last year in a deal to fulfill $20.6 million of debt owed to then-investor Kuwait Finance House. Craig Wireless chief govt T. Boyd Craig said. Woosh has made up the majority of Craig Wireless’ gross sales since its takeover, with Canada revenue of C$7.7 million within the 9 months ended May 31 out of whole gross sales of C$7.Eight million. Craig Wireless posted a web loss of C$9.4 million, or 17 Canadian cents per share, in the nine month period, compared to a loss of C$7.7 million, or 15 cents per share, a yr earlier. Woosh’s newest monetary statements show a lack of $2.9 million in the 12 months ended June 30, 2011, which the corporate blamed on one-off items including the impairment it wore on the sale to Craig, a $2.6 million insurance coverage bill for earthquake injury to its Christchurch network and a $1.8 million foreign exchange gain.
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