It looks like they have had a nasty setback. From the Q1 report:-
Quadtel Ltd (ASX: QTL), today announced that as of September 30th 2002, the company retained a strong cash position of $856k. Although this represents a decrease of $126k from the position at 30 June
2002, there has been a significant improvement in the net operatingcash flows from -$615k for Quarter 4 2002 to -$126k for Quarter 1 2003.
Sales for the quarter were $2.6m, which is a 41% decrease on the corresponding quarter last year ($4.5m). Although this is a somewhat disappointing result after 3 consecutive quarters of growth, it is
the result of vendor replacement which has led to stock returns and crediting. This process has now been completed and Quadtel recently signed impressive distribution agreements, with another couple in the
pipeline which will further boost its strength over the coming months. The company directors therefore don't foresee reason for future concern.
"We look forward to a buoyant sales recovery leading up to the Christmas period; from the broadband side, the surge to equip more and more users is relentless and has led to significant commitments from key ISP's for this quarter including iHug, OzEmail, iPrimus and
RSLCom," commented Bruce Ind, CEO of Quadtel.
QTL
unknown
