VICTORIA – Cost cutting at Vecima Networks is beginning to pay off, though the company still reported a net loss for its first quarter of 2012. For the period ended September 30, Vecima’s net loss was $700,000 on revenues of $20 million. The designer and manufacturer of technology in the broadband equipment market blamed the 5% drop in revenue over the previous quarter on a “weakening” in its legacy product orders. Gross margin was 37%, down from 38% in the same period last year, while the company's cash position was $7.8 million at quarter end, up from $5.1 million at the end...
