Ann: 1H FY14 Results Announcement , page-3

I'm inclined to agree JTaylor,

After having a look through the accounts, there's a bit of an explanation stating that:

......................
Operating revenue declined in the half by 3% to $215.8m as the Group continued to refine its
portfolio of businesses. Revenues
grew in the areas the Group has deemed strategically important, but were offset by
weaker revenues in non-strategic segments. The Telecommunications segment recorded a 1%
increase in revenues on the prior corresponding period, reflecting strong growth from the business
segment and from Telstra branded stores, offset by lower Fone Zone revenues. Computing revenues
were down 15% overall. Whilst the contribution from older format stores was lower reflecting
weaker like-for-like comparatives and closed stores, the Group’s new format Apple Premium
Reseller (APR) stores delivered an 18% uplift in revenues.

Underlying EBITDA was up 18% to $12.1m in the period, reflecting growth in the Group’s strategic
businesses - Telstra stores, the business channel and new format APR stores. The improvement in
underlying EBITDA reflects a shift in mix toward higher margin businesses and a focus on driving
higher rates of productivity. The Telecommunications segment delivered underlying EBITDA of
$12.9m, 22% up on the same period last year, whilst the Computing segment made a small loss of
$0.8m for the
period after incurring restructuring costs of $0.4m, relating to the migration from old to new
format stores.
....................

I must say that I'm inclined to agree with you in some forms here that the decline in revenues is a concern, however, I hope that by taking the impairment now that they can continue to focus on their telecommunications.

I remember reading after TLS's results that they had added like another 4million subscribers. How that didn't translate to revenue growth is a bit concerning. Maybe an email or call to the company warrants some further action.