Really not impressed with this result, the sales of clinical cardiac test better keep increasing at 198%; revenues still are not increasing as fast as spending. Wonder when we will see $1.00 per share again.
Dick
Financial Overview:
For the three–month period ended March 31, 2006, sales of the clinical cardiac and environmental West Nile virus tests increased 198% and 83% respectively, while sales of the biodefense products decreased by 52% as compared to the corresponding period in 2005. The Company believes the biodefense business segment will be a steady contributor to revenues over the course of the entire year, but will fluctuate from quarter to quarter due to irregular government purchasing patterns. Total revenues during the first quarter were $738,185, down 9% from $796,817 during the corresponding period last year. Revenues from product sales were $672,596 compared to $789,523 for the same period in 2005, a decrease of 15%. For the three–month period ended March 31, 2006, the Company reported a loss of $2,152,409 or $0.03 per share compared to a loss of $1,577,008 or $0.02 per share in 2005. The increase in loss is primarily due to increased research and development expenditures for new research and development projects, license fees for rights to develop a RAMP NT–proBNP Test and an increase in facility costs. At March 31, 2006, the Company had a working capital balance of $6,717,099. |
