Cygnal bemoans slower growth; retracts guidance

MARKHAM – Equipment supplier and network services provider Cygnal Technologies reported a tepid second quarter of 2007 today. "Revenue performance in 2007 has been slower than expected," said Jos Wintermans, president and CEO, in the press release. "We continue to work towards growing revenues for future periods, and we recently added a number of senior salespeople to our network operations business." Revenues for the three months ended June 30, 2007 increased by $100.000 to $29.7 million, compared to Q2 2006. Revenues in the company’s network operations segment grew by 5% to $15.4 million, with increases in project and Connex revenues...