Short Take: SyQuest narrows Q1 losses
Portable storage drive maker SyQuest narrowed its losses in its first quarter despite a 38.6 percent drop in revenues. The company reported a net loss of $6.8 million, or 86 cents per share, compared with a loss of $33.8 million or $2.98 a share a year ago. Revenues fell to $48.3 million in the quarter, down from $78.7 million a year ago.
Portable storage drive maker narrowed its losses in its first quarter despite a 38.6 percent drop in revenues. The company reported a net loss of $6.8 million, or 86 cents per share, compared with a loss of $33.8 million or $2.98 a share a year ago. Revenues fell to $48.3 million in the quarter, down from $78.7 million a year ago.