Still no mention of revenue, not a lot of cash left.
Lumenon Innovative Lightwave Technology, Inc. Reports Fiscal 2003 First Quarter Results
Thursday November 14, 1:46 pm ET
MONTREAL--(BUSINESS WIRE)--Nov. 14, 2002--Lumenon Innovative Lightwave Technology, Inc. (Nasdaq:LUMM - News), a manufacturer of high-quality optical devices for the global telecommunications, data communications and cable markets, announced today its results for the fiscal 2003 first quarter ended September 30, 2002.
ADVERTISEMENT
Lumenon's loss for the fiscal 2003 first quarter ending September 30, 2002 totaled CDN$5.4 Million (US$3.4 Million), or CDN$0.13 (US$0.08) per share, compared with a loss of CDN$5.9 Million, or CDN$0.15 per share, for the same period in fiscal 2002.
As of September 30, 2002, Lumenon had a cash position of CDN $3.0 Million (US$1.9 Million).
"These are challenging times, however, we continue to focus on our goals of strengthening the company's financial position while engaging certain key areas of the marketplace, sampling our technology, and positioning ourselves to take advantage of market opportunities as economic conditions recover," said Gary Moskovitz, President and Chief Executive Officer. "To date we have produced and tested thousands of devices, demonstrating the viability of our technology, and are continuing to finalize our product development activities in preparation for moving into the first level of manufacturing and the initiation of certification testing." |
