Baylin Tech (TSE:BYL) has released an update.
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Baylin Technologies Inc. reports a decrease in fiscal 2023 revenue by 6.6% to $73 million compared to the previous year, attributed to lower sales in Embedded Antenna and Wireless Infrastructure. Despite the revenue drop, gross margin improved to 38.9% due to a better product mix and pricing strategy. The company also notes a net loss shrinkage in continuing operations to $8.2 million and is in the process of divesting its Mobile and Network business.
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