March Networks warned Thursday hopes for growth this year have been dashed after reporting a big jump in losses in the latest quarter.
The struggling Ottawa maker of surveillance video technology said sales tumbled 15 per cent to $20 million in the third quarter that ended Jan. 31 because of weak U.S. demand and a rising Canadian dollar. It lost $3.5 million, compared to a loss of $1.3 million a year earlier. The stock fell as much as 12 per cent on the news, trading as low as $3.83.[Read More]
