From 10Q
The Company's contract revenue for the first quarter of fiscal 2002 was $1,621,200, which represented an increase of $921,200, or 132%, compared to $700,000 for the first fiscal quarter of 2001. The increase in contract revenue is primarily attributable to the Company's greater allocation of resources to the performance of contract backlog during the current period as opposed to internal research and development during the comparable period of fiscal 2001.
The Company's product sales for the first quarter of fiscal 2002 was $876,300, which represented a decrease of $366,700, or 30%, compared to $1,243,000 for the first quarter of 2001. This reduction primarily reflects a decrease in Novalog sales attributable to the decline in the sales of Palm Computing, a major customer, partially offset by increased sales of MPD products.
Total contract and product sales revenues for the first quarter of fiscal 2002 were $2,497,500, which represented an increase of $554,500, or 29%, compared to $1,943,000 for the first fiscal quarter of 2001. We recently received notice of several new pending government contract awards and expect that our contract revenue will continue to represent an increasing percentage of our total revenue compared to revenue from product sales. |
