Victoria's Vecima Networks Inc. (TSX:VCM) has posted strong first-quarter results with a 39% increase in revenue and a tripling of quarterly net profit for the period ending September 30, 2008.
Quarterly revenue rose to $36.7 million from $26.4 million in last year's first quarter. Net income jumped 249% to $7.8 million compared with a profit of $2.2 million in the same period last year.
Continued growth in consumer demand for broadband Internet access contributed to the company's strong performance.
Vecima's share price range during the past week: between $4.80 and $5; 52-week high: $8.38; 52-week low: $3.75.