SAN FRANCISCO, April 30 - Pharsight today reported increased quarterly and year-over-year revenue.
Total revenue for the fiscal year ended
Total revenue for the quarter ended March 31 were $3.8 million compared with $3 million in the year-ago period. The net loss for the quarter dropped to $3.4 million, or $.18 per share, from $6 million, or $.33 a share, for the same period a year ago.
R&D for the fiscal year dropped to $6.6 million from $8.1 million in the previous year. R&D spending was cut back to $1.5 million in the fourth quarter from $2.3 million for the year-ago period.
Pharsight revised its projection of EBITDA breakeven for the end of June 2003 from previously announced end of calendar year 2002.
The company said it had $13.6 million in cash, cash equivalents, and short-term investments as of March 31.
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Pharsight also said today that it signed Aventis Pharma to a software and support deal, its largest customer deal to date, according to the company.