CALGARY, Canada-Wireless location company Cell-Loc Inc. announced its earnings for the quarter ended Dec. 31 showing high operations expenses and low cash equivalents.
The company’s deployment and operations expenses were $1.8 million, significantly up from the prior period. The company’s cash equivalents were $1.5 million, significantly down from its $20.2 million in September.
Cell-Loc attributed its poor results to the slow pickup of the wireless Internet and the unfavorable market for technology stocks. The company recently put a restructuring plan in place that it said would decrease spending and it said it would refocus on revenue opportunities in existing markets.
