Tollgrade posts loss as proxy vote looms

Pittsburgh Post-Gazette – In a conference call with analysts yesterday, Joseph A. Ferrara, president, chief executive officer and board chairman of Tollgrade Communications, highlighted the company’s ”transformational activities” during the past quarter, including selling off its cable product line for $3.1 million and closing a deal on a managed services contract expected to bring in $20 million over a four-year period.

But the manufacturer of communications network testing equipment did not experience enough transformation during the past quarter to move into the black. Rather, it reported a second-quarter loss of $1.5 million, or 12 cents per share, on revenues of $10.6 million, compared with a loss of $255,000, or 1 cent per share on revenues of $12.1 million in the same quarter a year ago. The $10.6 million figure does not include $1.4 million from discontinued operations.

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