NEW YORK (GenomeWeb News) — Lumera yesterday said first-quarter revenues increased 71 percent as R&D spending fell 20 percent and net loss narrowed 15 percent.
Total receipts for the three months ended March 31 increased to $860,000 from $503,000 million year over year.
Lumera also said it had just over $2 million in backlogged government contracts at the end of the quarter.
R&D spending dipped to $1.3 million from $1.6 million in the year-ago period.

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