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LSBC Q2 Revenues Increased, But Under $1M

Jul 23, 2003

NEW YORK, July 23 - Large Scale Biology reported revenues of $0.9 million for the second quarter, compared to $490,000 in the same period last year.

 

The Vacaville, Calif., company had a net loss of $6.2 million for the quarter, compared to $9.6 million for the second quarter of 2002.

 

LSBC's R&D expenses narrowed to $2.8 million, from $5.9 million in the year-ago quarter. These expense reductions follow a restructuring program announced in June, in which the company plans to cut costs $5 million within the year. 

 

At the end of the second quarter, the company had $15.0 million in cash and marketable securities.

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