Public transportation provider Transnational Automotive Group narrowed its net loss for the 2008 fiscal year when compared to the previous year. The Woodland Hills company reported a loss of $7.3 million, or $0.16 per diluted share, on revenues of $8.1 million for the fiscal year ending Feb. 29. For the previous fiscal year, the company had a net loss of $8.5 million, or $0.20 per diluted share, on revenues of $1 million. Fiscal 2008 marked the first full year the company has operated bus lines in the African nation of Cameroon. It currently operates three services in the large commercial centers of Yaound & #233; and Douala. “We continue to make solid operational progress, as our ridership steadily increases, advancing threefold since operations began, and our presence in Cameroon creates meaningful social and economic change,” said Seid Sadat, TAUG’s chief financial officer who also serves as interim CEO.
