Newspaper article Sarasota Herald Tribune

XG Cuts Losses in 3rd Quarter

Newspaper article Sarasota Herald Tribune

XG Cuts Losses in 3rd Quarter

Article excerpt

LOCAL TECHNOLOGY

SARASOTA -- XG Technology Inc., the local cognitive radio technology provider, says it narrowed its losses during the third quarter.

The Sarasota company said it posted a loss of $3.1 million, or 42 cents per share, during the most recent quarter, down from $4.3 million, or $1.77 per share, in the same 2014 quarter.

XG reported revenues of $189,000, up from $150,000 during the third quarter last year.

The company ended the most recent quarter with $1.1 million in cash, compared with $758,000 on Dec. 31.

XG competed a 1-for-10 reverse stock split in July. The company's shares were selling for 24 cents in morning trading on Tuesday, down about 4 cents.

The company has announced a series of deals in 2015, the most recent with a Scottsdale, Arizona, company to market integrated health-delivery systems that incorporate xG mobile broadband technology and the partner company's telemedicine hardware, devices and software. …

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