Turnover jumped by 23 per cent to 3.8 million in the six months to 31 March, contributing to a narrowing in losses from 166,000 to 132,000.
Bill Allan, the former Thus chief executive who became Pinnacle's chairman last year, said: "With no acquisition activity in the first half to impact the results, it is pleasing to see a solid increase in turnover for the period compared to both the equivalent period last year and the second half of last year."
Pinnacle's fibre optic equipment - which can carry radio and sound broadcasts, as well as video for BBC iPlayer streams - made its debut at Radio 1's Big Weekend in Carlisle, which included performances from the Black Eyed Peas, Lady Gaga and Nicole Scherzinger.
Chief executive Alan Bonner said: "I continue to examine acquisition opportunities on a regular basis and remain hopeful of concluding one or more acquisitions in the second half."
Contracts under way include next month's T in the Park music festival near Kinross, at which peformers will include Beyonce, Blondie and KT Tunstall.