NEW YORK, April 30 - Aclara today reported significantly receded revenue, a decrease in operating spending, and a narrowed net loss.
Total revenue for the quarter ended March 31 was $590,000 compared with $934,000 in the year-ago period, Aclara said.
Operating expenses in the period were $10.8 million, down from $13.4 million Aclara reported for the first quarter 2001. R&D spending grew to $6.2 million in the current quarter from $5.2 million year over year.
Net loss narrowed to $9.1 million, or $.25 per share, from $9.8 million, or $.28 per share one year ago.
Aclara said it had just under $17 million in cash and cash equivalents as of March 31.
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