August 12, 2009 / 10:57 AM / 8 years ago

UPDATE 1-Canada's TeraGo posts lower Q2 loss

* Q2 loss/shr C$0.12 vs loss/shr C$0.26 year ago

* Q2 revenue up 13 pct to C$8.6 mln

Aug 12 (Reuters) - National broadband service provider TeraGo Inc TGO.TO reported a lower quarterly loss, helped partly by expenses that dropped about 20 percent during the quarter.

For the second quarter, the company posted a net loss of C$1.3 million ($1.18 million) or 12 Canadian cents a share, compared with a net loss of C$2.9 million, or 26 Canadian cents a share, a year ago. Revenue rose to C$8.6 million, as a result of more customer locations in service and as existing customers upgraded their internet and data connections.

The company said it added 198 gross customer locations during the quarter, down from 360 it added in the same period last year.

Sales, general and administrative expenses were down about 20 percent to C$5.2 million, benefiting from the cost cutting initiatives carried out in the fourth quarter of 2008.

Shares of the company closed at C$4.94 Tuesday on the Toronto Stock Exchange. ($1=1.103 Canadian Dollar) (Reporting by Ashutosh Joshi in Bangalore; ; Editing by Unnikrishnan Nair)

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