Accelr8 Quadruples Q3 Revenues, But Loss Widens as it Prepares Bacterial Analysis System

NEW YORK, June 16 (GenomeWeb News) - Accelr8 Technology yesterday reported increased revenues along with a widened loss for its third quarter of fiscal 2005, which ended April 30.

The Denver-based company had $120,000 in revenues for the quarter, more than four times the $26,000 it posted during the same period a year ago. This increase was attributed to sales of two types of microarray slides, Slide H and Slide HS, which Accelr8 licenses and manufactures for Schott Nexterion.

Research and development costs nearly tripled for the quarter, however, to $383,000, from $128,000 during the same quarter last year. the company attributed the increase to the development of its BACcelr8r rapid bacterial analysis system.

As a result, Accelr8's net loss for the quarter soared to $563,000, or $.06 per share, from $335,000, or $.03 per share, during the year-ago period.

As of April 30, Accelr8 had $5.9 million in cash and cash equivalents.