Metrobridge Networks International Inc. (TSX-V:MEB) has reported a 251% increase in net loss for the quarter ending June 30.
The second-quarter losses for the Vancouver high-speed wireless broadband provider rose to $2.2 million from $621,903 in the same period a year ago. Metrobridge said the increased losses were due primarily to additions to the company's sales force, administrative personnel and infrastructure to support the company's Utah market, which it acquired last year.
Revenue rose 102% to $1.9 million from $926,938 due to a full quarter of operations of its Utah business.
Metrobridge's share price range during the past week: $0.05; 52-week high: $0.50; 52-week low: $0.05.