Tuck,
For the quarter, total revenues increased to $6.2 million, or 37 percent more than the $4.5 million for the same period in 2000. For the quarter, the Company reported contract revenues of $6.0 million compared to $4.1 million for the first quarter in year 2000, an increase of 44%, and milestone and royalty revenue of $0.2 million for the first quarter of 2001 versus $0.4 million for the same period a year earlier. The Company reported a net loss to common stockholders of $2.1 million, or a negative $0.08 per share, for the first quarter of 2001, compared to a net loss to common stockholders of $2.2 million, or a negative $0.29 per share for the first quarter of 2000. For the quarter, EBITDA was a negative $1.6 million versus a positive $0.5 million in the same period in 2000. During the first quarter 2001, the Company recognized the positive effects of a tax benefit of $1.1 million.
I read this to say that losses would have been 3.2 million for the quarter if it were not for the tax benefit of 1.1 million. I assume this means that SG&A or other expenses have increased by 2.7 million vs last years quarter.
J.D. |
