Primus Telecommunications Group Inc., the U.S. parent company of Primus Canada, today reported its third quarter 2009 financial results, the first since the company emerged from chapter 11 bankruptcy protection.
In Canada, net revenue in the quarter decreased $9.4 million, or 14% from the same period a year earlier.
Exclusive of a favorable $3.4 million currency effect, net revenue in Canada decreased $1.1 million, or 2.0%, from the second quarter of 2009. The $1.1 million sequential net revenue decline was comprised of a $0.8 million decline from traditional voice services and $0.6 million decline from prepaid voice services, partially offset by a $0.3 million increase in local, VoIP, broadband internet, data and hosting service revenue.
In Canada, Primus offers long distance, local phone, VoIP, wireless and internet services to over 1 million customers including over 100,000 internet subscribers.
The company was founded in 1997 and has over 850 employees in offices across Canada, including Vancouver, Toronto, Oakville, London, Windsor, Montreal, and Edmundston.