Cygnal '05 results "obviously disappointing," says CEO

MARKHAM – As the company warned last week, contractor and equipment supplier Cygnal Technologies endured a tough 2005. Revenues were $125.8 million in fiscal year 2005, down from $140.1 million in 2004. Network Operations revenues increased $1.9 million to $75.9 million, while Communications Services revenues (which includes supplier White Radio) decreased $16.2 million to $49.9 million. Gross margin was 21.4% in 2005, up from 20.8% the prior year. Selling, general and administrative expenses, prior to severance costs, were $36.8 million, compared to $34.3 million the previous year. EBITDA was a loss of $10.8 million, compared to an EBITDA loss of $7...