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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 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.