RALEIGH, N.C.—Summus Inc., which provides processing technology for wireless devices, reported increasing losses and dropping revenues as a result of selling parts of its business and drops in its contract services.
The company’s revenues were $227,818 for the quarter, ended March 31, and its net loss was $2.6 million.
However, the company recently provided healthy fiscal guidance in light of its recent sales to Verizon Wireless.
