October 14, 2011 / 9:18 PM / in 6 years

UPDATE 1-Mitec Telecom Q1 loss widens

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Oct 14 (Reuters) - Canada’s Mitec Telecom Inc posted a wider quarterly loss, hurt by reduced sales at its wireless and VSAT divisions.

The Montreal-based mobile wireless products maker reported a first-quarter net loss of C$1.7 million, or 1 Canadian cent a share, compared with a loss of C$ 1.3 million, or 1 Canadian cent a share, last year.

Revenue fell 38 percent to C$1.6 million.

Shares of Mitec closed at 2 Canadian cents on Friday on the Toronto Stock Exchange. (Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)

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