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Technology / AI and automation

COMPANY RESULT: SYGNET WIRELESS INC

Sygnet Wireless Inc, Canfield, Ohio cellular telephone network operator, reported a first-quarter net loss of $6.2m on revenue up 127% at $18.3m, compared to net income of $458,000 for the same quarter last year. The growth in revenue reflects the acquisition of Horizon Cellular late last year, and the net loss is due to interest expenses and depreciation and amortization charges related to the acquisition.

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