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Accelr8 s Revenues Down, Losses Up in Q3; Company to Sell Software Business

NEW YORK, June 15 (GenomeWeb News) - Accelr8 Technology today reported dwindling revenues and increased losses for the third quarter of its fiscal year 2004, which ended April 30.

 

The company had $132,000 in revenues for the quarter, down from $276,000 during the same quarter last year.

 

R&D costs remained flat at $128,000, compared to $122,000 during the year-ago quarter.

 

Accelr8 recorded a net loss of $335,000, or $.03 per share, up from $214,000, or $.02 per share, during the third quarter last year.

 

Last month, the company said it will sell its software business by the end of July, allowing it "to devote its full attention to advancing the biosciences side" of its business, according to a company statement. Accelr8 values the sale at $700,000, including $200,000 in deferred maintenance revenue.

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