xG Technology (XGTI) Posts Q1 Loss of 15c/Share

xG Technology (NASDAQ: XGTI) reported Q1 EPS of ($0.15), versus ($0.17) reported last year. Revenue for the quarter came in at $584 million, versus $250 million reported last year.

George Schmitt, CEO and Chairman of the Board of xG Technology, said, "The xG team has strengthened xMax's competitive positioning and go-to-market strategy by increasing the number of demonstrations we conduct by building strategic marketing relationships with key providers to target end markets, and by expanding our IP portfolio through recently-issued patents. We continue to evaluate alternatives to secure financing, preferably of a non-dilutive nature, as we selectively invest in developing our growth. We continue to enjoy high levels of activity, and are solely focused on driving revenue generation this year."

For earnings history and earnings-related data on xG Technology (XGTI) click here.

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