Newspaper article Sarasota Herald Tribune

XG Reports $6.3 Million Loss, Revenues Substantially Higher

Newspaper article Sarasota Herald Tribune

XG Reports $6.3 Million Loss, Revenues Substantially Higher

Article excerpt

COGNITIVE RADIO

SARASOTA -- XG Technology Inc., the Sarasota-based cognitive radio company, reported a loss of $6 million, or 98 cents per share, in the second quarter, according to a filing Thursday with the U.S. Securities and Exchange Commission.

The results compared with a loss of $6.3 million during the same quarter a year ago, the filing showed.

Revenues were $1.66 million for the quarter, compared with $374,000 in the year-ago period.

XG had posted a loss of $4.43 million during the first quarter on revenues of $929,000.

The company reported cash on hand of $154,000 at the end of the second quarter, down from $368,000 at the beginning.

The company's shares, which trade on the Nasdaq, were selling for 43 cents in morning trading, down less than a penny.

XG is considered a pioneer in the field of cognitive radio, a "smart" system that uses computer power to put broadband data and voice on frequencies that are the most open within a band.

In July, the company announced that it had sold underwriters 7. …

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