One technology company that I really like is Cbeyond Inc. (NASDAQ/CBEY). As I've mentioned before, the technology sector is growing again, and the telecommunications technology sector, in particular, is really experiencing a resurgence. This sector of the economy deserves some renewed attention.

Cbeyond, based in Atlanta, sells voice, mobile, and broadband telecom services to small businesses in Chicago, Dallas, Denver, Atlanta, Houston, and Los Angeles. The company offers traditional local, long-distance, and Internet access, along with enhanced applications such as Web hosting, data backup, and file- sharing. The company maintains its own private network that is conducted in a Voice-Over-Internet Protocol (VoIP) network.

According to the company, its second quarter 2006 revenues grew 38% to $52.5 million, up strongly from revenues of $38.2 million.

Net income for the second quarter was $1.4 million, as compared to a loss of $932,000.

The company reported that it netted about 1,805 new customers during the second quarter, bringing its total customer base to 23,714. The company increased its average monthly revenue per customer location and finished the quarter with cash and marketable securities of $32.0 million.

Cbeyond recently increased its revenue and earnings guidance from its previous estimates, and the stock has experienced healthy interest from investors since it went public late last year.

I'm really seeing a lot of attractive, small-cap technology companies that are growing their businesses at an impressive rate. Cbeyond is a perfect example of a well-managed, small-cap company that's interested in growing its business in a deliberate, diligent manner, instead of trying to create a one hit wonder.

If I was in the market for a small-cap telecommunications or technology investment, I'd definitely consider this company. Just when you thought the stock market wasn't doing much, out of the blue comes a great small company with a solid story to tell.