In the same period a year ago, the Sarasota-based wireless telecommunications company experienced a net loss of $16 million, or $1.70 per share, though that result included a $10.1 million expense associated with a stock deal in September 2013.
Revenue a year ago totaled $33,000, the company stated.
The average number of shares outstanding for the quarter ended Sept. 30 was 24.2 million, compared with 9.4 million in September 2013.
XG ended the quarter with $1.9 million in cash, down from $5.5 million a year ago.
“The momentum of sales activity we experienced in the second quarter accelerated into the third in every respect,” John C. Coleman, xG’s CEO, said in a statement. “We are experiencing strong validation of our new product and software, though converting proposals to orders has proven a lengthier process than any of us would prefer.”
For the nine months ended Sept.