Woosh posts annual loss as costs mount, will need more cash from parent

Mon, 03 Mar 2014

By Paul McBeth March 4 (BusinessDesk) - Woosh Wireless Holdings, the local internet service provider, posted a loss in the 2013 financial year and will need more cash from its unprofitable Californian parent, Craig Wireless Systems, to meet future cash-flow requirements. The Auckland-based company made a net loss of $2.59 million in the 12 months ended Aug. 31, 2013, compared to a loss of $2.39 million in the 10 months ended Aug. 31, 2012, according to financial statements lodged with the Companies Office. Woosh made an operating loss of $1...

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