Accelr8 Announces First Quarter Results and Reduced Losses
DENVER, Dec. 19 /PRNewswire-FirstCall/ -- Accelr8 Technology Corporation (Amex: AXK) today reported a loss of $539,330 or $0.05 per share on net revenues of $56,219 for the quarter ended October 31, 2006. In the comparable three-month period of fiscal 2005, Accelr8 reported a net loss of $772,038 or $0.08 per share on net revenues of $86,388. The company's fiscal year ends July 31. According to David Howson, Accelr8's president, "we've entered an intensive biological testing period with the BACcelr8r(TM) rapid bacterial analysis system. This has allowed us to ramp down external expenditures as we build data sets to support our development. We are expanding our testing with recent clinical culture isolates. Then we expect to resume product development with the BACcel(TM)-1.0 system for research markets and initial clinical trials." "As we announced last week at our annual shareholders' meeting, we are very pleased with the system's ability to identify major categories of highly resistant bacterial strains. We demonstrated identification of the important MRSA strain of 'Staph' in less than four hours. We also identified a second major category of highly resistant organisms, ESBL producers, in the same time period. To the best of our knowledge, no other development program or technology has done this before." About Accelr8 Accelr8 Technology Corporation (www.accelr8.com) is a developer of innovative materials and instrumentation for advanced applications in medical instrumentation, basic research, drug discovery, and bio-detection. Accelr8 is developing a rapid clinical pathogen platform, the BACcelr8r(TM), based on its innovative surface coatings, assay processing, and detection technologies. In addition, Accelr8 licenses certain of its proprietary technology for use in applications outside of Accelr8's own products.
SOURCE Accelr8 Technology Corporation
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