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Technology Stocks : Applied Energetics, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Zoro99 who wrote (437)	8/12/2008 9:04:41 AM
From: Zoro99	Read Replies (1) \| Respond to of 512

Applied Energetics Sees Revenue Leap in Quarter Aug 12, 2008 (The Arizona Daily Star - McClatchy-Tribune News Service via COMTEX) -- Aug. 12--Tucson-based Applied Energetics Inc. posted strong second-quarter gains, which the defense contractor attributed to big contract wins from the Defense Department. Revenue rose to $5.7 million, compared with $3.1 million during the second quarter last year. That was due in part, the company said, to contracts for technology that detects and destroys improvised explosive devices -- known as IEDs -- on the battlefield. "This is a busy and exciting time for our company," Chairman and CEO Dana A. Marshall said in a conference call with investors on Monday. "We've made important technical and operational achievements." During the quarter, Applied Energetics was awarded a $9.3 million Marine Corps contract and received $4.5 million in Army funds for development of its laser-guided-energy technology. The company also shrank its net loss to $1.1 million, or 1 cent per diluted share, compared with $2.5 million, or 3 cents, during the same quarter last year. Applied Energetics narrowed its losses compared with its first quarter of 2008, when it had a loss of $3.6 million, compared with $2.7 million during the same period in 2007. Shares of Applied Energetics rose in midday trading to close at $1.52 on the Nasdaq Stock Market, down 7 cents from Friday's close. --Contact reporter Jack Gillum at 573-4178 or at jgillum@azstarnet.com. To see more of The Arizona Daily Star, or to subscribe to the newspaper, go to azstarnet.com. Copyright (c) 2008, The Arizona Daily Star, Tucson Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. Jack Gillum Copyright (C) 2008 The Arizona Daily Star, Tucson