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GTT Revenue And Expenses Rise

|Includes:GTT Communications, Inc. (GTT)

Originally published at www.seclive.com

Global Telecom & Technology, Inc. (NYSE:GTT) announced its fourth quarter and full fiscal year 2013 financial results, reporting rising revenue and expenses. The cloud networking service provider announced a 67% quarterly revenue increase, from $27.6M to $46.1M while full-year revenues increased 46% from $107.9M to $157.4M. Despite the marked top-line improvements, the company's bottom line worsened due to overall increases in operating and other expenses, resulting in a quarterly net loss of $3.7M and $0.16 per share. The company expanded last year's net loss of $1.6M and $0.08 per share to a net loss of $20.8M and $0.95 per share. President and CEO Rick Calder remarked that the year was pivotal for the company and that it achieved several goals and looks optimistically forward to the new fiscal year for increased expansion and overall performance.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: GTT