Cygnal's report improves, but company cuts guidance

MARKHAM – Equipment supplier and network solutions company Cygnal Technologies reported a better second quarter, but still came in at a loss. Revenues were $31.8 million for the quarter ended June 30th, 2005, an increase of 7% from Q2 2004. Gross margin for the quarter was 21.8%, up from 18.7% a year earlier. EBITDA was a loss of $1.8 million, compared to $3.2 million in the same quarter in 2004. Net loss in the second quarter was $1.7 million, or $0.06 per share, compared to a loss of $2.7 million or $0.12 per share in Q2 2004. Operating activities provided...