Dear Employees,
We are happy to let you know that the financial results of Telecom Ltd. for the 3rd quarter revenues increased to $7.076 million compared to $6.520 million for the corresponding quarter last year with an increase of 4%. Operating Income for the quarter reached $1.669 million compared to $1.353 million for the corresponding quarter last year with an increase of 13%. Earnings before interest and tax (EBIT) for the quarter reached $2.814 million, an increase of 8% compared to same period last year. The increase in revenues is attributed to the operational efficiencies of the central network department, sales and marketing and our affiliate companies.
The net income during the quarter amounted to $1.573 million compared to $1.772 million for the corresponding quarter last year. In spite of the double digit increase in operating income for the quarter compared with the corresponding quarter last year, the net income decrease is attributed to the two-month salary payment to all employees amounted to $800,000. This payment was made to reward you all for your loyalty and your hard work in helping improve the company’s revenue this year and lifting it up after last year’s recession.
Telecom Ltd. CEO
I liked how your communication started on a positive not when you referencing how happy you were with results.
ReplyDeleteAn explanation of the decrease due to rewarding employees for loyalty and hard work during hard time would stick in an employees mind.
I think this would stimulate an even better work ethic.
I like your explanation to the result of a decrease in operating income due to the "bonus" payment to employees. This bonus should certainly pay off by motivating employees for at least a few years to come.
ReplyDeleteAbdullah, nice work on the script and recording. I was able to sense the improvement because you used comparisons to the previous year period to date. That is important.
ReplyDelete