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Network communications provider Cygnal Technologies Corporation (TSX:CYN) reported their financial results for the three months ended June 30, 2007 and a $US 5 million debt financing, and a retraction of its guidance for fiscal 2007.

Financial Highlights:

- Revenues were $29.7 million, up marginally from $29.6 million in the second quarter of 2006
- Gross margin was 21.8%, compared to 23.9% for the same period a year ago
- Selling, general and administrative expenses declined by 22% or $1.6 million to $5.8 million
- EBITDA(1) was $0.5 million, an improvement of $1.3 million over an EBITDA loss of $0.8 million in Q2 2006
- Net loss was $1.1 million, or $0.03 per share, compared to a net loss of $2.3 million or $0.08 per share a year earlier.
- Cygnal completed two financing transactions during the quarter raising an aggregate of $1.74 million of equity through private placement and US$2.0 million of debt

Categories: Financial Results, For The Books
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