News

Coyotenet announces year-end 2001 numbers

May 27, 2002

RICHMOND, British Columbia -- Canadian kiosk developer Coyotenet Communications Group Inc. (TSX Venture:COY) reported an increase in revenue and slashed its losses almost in half during fiscal year 2001 according to papers recently filed with Canadian financial authorities.

For the year ending Dec. 31, 2001, Coyotenet reported revenue of $1,127,348, up 11.5 percent over the previous year, when the company brought in $1,010,966. A decrease in expenses and write-off costs allowed the company to trim its net loss from $638,071 in fiscal year 2000 to $326,544, a decrease of 48.8 percent.

Based in the Vancouver suburb of Richmond, Coyotenet develops, manufactures, and distributes a line of public access Internet kiosks. The company has deployed 220 units as of late May, according to Coyotenet officials.