Revenues dip, loss grows at Cygnal

MARKHAM - Cygnal Technologies said today that second quarter revenues were down 7% to $29.6 million, compared to the same period in 2005. Gross margin was 23.9% in the quarter ended June 30th, up from 21.8% in Q2 '05 and selling, general and administrative expenses were $7.4 million, down from $8.6 million in Q2 2005. EBITDA was a loss of $800,000, compared to an EBITDA loss of $1.7 million in the second quarter last year. The company's net loss was $2.3 million, compared to a loss of $1.7 million in the second quarter of 2005. Cygnal provides network solutions to...