First-quarter revenue rose 74% for Vancouver's Metrobridge Networks International Inc. (TSX-V:MEB) due primarily to its acquisition of Salt Lake City's Utah Broadband LLC.
Revenue rose to $1.5 million from $842,604 on the strength of significant growth in revenue from the company's monthly subscriptions, value-added services and installation and activation services.
However, the Metrobridge's net loss doubled to $1.1 million from $547,303 as corporate office and sales and marketing costs increased significantly. Corporate costs were related to the purchase of Utah Broadband, which closed in early February, and other financing activities.
Metrobridge's share price range during the past week: between $0.15 and $0.16; 52-week high: $0.60; 52-week low: $0.12.