Accelr8 Announces Second-Quarter Results and Continued BACcelr8r(TM) Development
DENVER, March 14 /PRNewswire-FirstCall/ -- Accelr8 Technology Corporation (Amex: AXK) today reported a loss of $849,726 or $0.08 per share on net revenues of $40,490 for the quarter ended January 31, 2006. In the comparable three-month period of fiscal 2005, Accelr8 reported a net loss of $359,527 or $0.03 per share on net revenues of $89,196. For the six-month period ending January 31, 2006, the company reported a loss of $1,669,073 or $0.15 per share on net revenues of $84,878. For the comparable six-month period in fiscal 2005 the company reported a loss of $897,244 or $0.08 per share on net revenues of $110,005. The company's fiscal year ends July 31. According to David Howson, Accelr8's president, "revenues from Slide H and Slide HS production reflect the completion of supply agreements with SCHOTT Nexterion. Under those agreements Accelr8 manufactured slides in our pilot production facility and sold them to SCHOTT. SCHOTT has now made the transition to its own manufacturing under our license and option agreements. These transactions have taken place in parallel with our expansion of the development program for the BACcelr8r(TM) rapid bacterial analysis system. In this development program, we continue to accumulate successful laboratory results using our innovative methods that eliminate bacterial culturing." About Accelr8 Accelr8 Technology Corporation (www.accelr8.com) is a developer of innovative materials and instrumentation for advanced applications in medical diagnostics, basic research, drug discovery, and bio-detection. Accelr8 is developing a new diagnostic platform, the BACcelr8r(TM), based on its proprietary surface coatings, assay processing, and detection technologies. The company intends the BACcelr8r(TM) to become the world's first diagnostic system to provide bacterial identification and quantitation in 2 hours or less, and complete antibiotic resistance strain identification in 8 hours or less. Standard culturing typically delays lab results from one to three days, which is far beyond the short time window that physicians have available to assure adequate initial therapy for a life-threatening hospital acquired infection (HAI).
SOURCE Accelr8 Technology Corporation
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