Revenues in the quarter climbed to $2.9 million from $1.1 million a year earlier, reflecting a 140-percent surge in product sales. The company attributed the sales growth to the mid-2005 launch of its CFplus cystic fibrosis test by Genzyme and adoption of its expanded menu selections, primarily the Tag-It Ashkenazi Jewish Panel and the Tag-It CF70 reagents.
R&D spending remained flat year over year at $1 million.
Tm's first-quarter net loss rose to $4.1 million, or $.09 per share, from a year-ago loss of $3.4 million, or $.09 per share.
As of March 31, the company had cash, cash equivalents, and short-term investments totaling $7.5 million.