10:02 AM EST - Shermag Inc. : has cut its second-quarter loss to $1.1 million, from a year-ago $2.1 million, as cost-cutting offset lower revenue. The loss for the quarter ended Sept. 29 amounted to 9 cents a diluted share, compared with 16 cents per share a year earlier, the Sherbrooke-based company reported Monday. On analyst polled by Thomson Financial had forecast a loss of 23 cents per share, before one-time items. Net revenue declined to $42.5 million from $48.1 million. Shermag Inc.
T.SMG are trading unchagned at $2.55.
