Nothing new. Just an expected increase in sales etc.
Three Months Ended March 31, 2005 and 2004
There were revenues of $355,413 for the first quarter ended March 31, 2005 compared to $218,440 for the same period in 2004 and there were cost of sales of $206,430 for the quarter ended March 31, 2005 compared to $133,437 for the same period in 2004 due to the SBIR Phase III contract awarded on September 2004.
Engineering costs for the quarter ended March 31, 2005 were $21,455 compared to $14,673 in the quarter ended March 31, 2004. There were higher engineering costs for the quarter ended March 31, 2005 due to the SBIR Phase III contract awarded on September 2004.
General and administrative expenses for the quarter ended March 31, 2005 were $96,714 compared to $41,726 in the quarter ended March 31, 2004 due to higher costs incurred for administrative and bid and proposal salaries and related costs.
Net income for the three months ended March 31, 2005 was $30,814 versus net income of $28,604 for the same period in 2004. |
