NEW YORK, Nov. 2 (GenomeWeb News) - Accelr8 Technology had increased revenues in its fiscal year 2005 results, which ended July 31, the company said this morning.
The Denver-based company reported sales of its OptiChem microarraying slides had nearly tripled to $336,610 for the fiscal year. The slides accounted for 67% of the company's total revenue. For the fourth quarter, the company's total revenues increased to approximately $118,000 from $33,100 the previous year.
Fourth quarter R&D costs were approximately $485,000, a significant increase from $146,000 during the same quarter last year. The company attributed the increase to continued work on its BACcelr8r rapid bacterial analysis system.
"We've installed our first in-house research version of the BACcerlr8r," said David Howson, Accelr8's president in a statement. "We also started the engineering design on the next generation of the research platform."
Accelr8's fiscal year net losses totaled $2 million, or $.21 per share, compared to a loss of $909,421 or $.09 per share the previous year.
As of July 31, Accelr8 had $5.6 million in cash and cash equivalents.