Financial and operational highlights for First Quarter of Fiscal 2008:
-- Revenue increased 138% over prior year period to $1.6 million
-- Gross profit was $1.2 million, an improvement of $0.6 million from one
year ago
-- Cash and cash equivalents were $2.5 million as of March 31, 2008
Total revenue for the first quarter ended March 31, 2008 was $1.6 million, an 82% increase
compared to total revenue of $0.9 million for the fiscal year ended March 31, 2007. Gross
profit grew to $1.2 million for the three months ended March 31, 2008, up 115% from
$0.6 million in the prior year period. Gross margin in the quarter was 77%, an improvement
of 12%, from 65% same quarter one year ago, due to increased sales of Bazi, which carries
a higher gross margin compared to the legacy products. Net loss for the three months ended
March 31, 2008, decreased 43% to $0.75 million, or $(0.05) per share, compared to a loss
of $1.4 million, or $(0.13) per share, in the prior year.
the source - The Earth Times
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