March 10, 2009 / 10:43 AM / 9 years ago

UPDATE 1-TeraGo posts wider-than-expected Q4 loss

* Revenue up 22 pct

* Adds fewer customer locations during the quarter

March 10 (Reuters) - National broadband service provider TeraGo Inc (TGO.TO) reported a wider-than-expected quarterly loss as it added fewer customer locations during the period and saw a spike in future income tax expense.

The Thornhill, Ontario-based company’s fourth-quarter net loss nearly tripled to C$4.8 million, or 43 Canadian cents a share, from C$1.7 million, or 15 Canadian cents a share, in the year-ago quarter.

Net customer locations grew only by 140 during the quarter, compared with 195 a year earlier.

TeraGo said it also recorded an increased future income tax expense of C$2.6 million during the quarter.

Revenue at the company rose 22 percent to C$8.3 million.

Shares of the company closed at C$3.20 Monday on the Toronto Stock Exchange.

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    $1=1.291 Canadian Dollar Reporting by Shradhha Sharma in Bangalore; Editing by Anil D'Silva

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