AER Energy Resources Reports First-Quarter Results for 2000May 03, 2000 by Jeff Shepard
AER Energy Resources Inc. (Atlanta, GA) announced operating results for the first quarter ended March 31, 2000. The company's first-quarter net loss for 2000 was $1.26 million, or $0.05 per share, versus a net loss of $1.14 million, or $0.05 per share, for the same period in 1999.
Revenues of $0.11 million and $0.48 million for the first quarter ended March 31, 2000 and 1999, respectively, were generated from the technology, licenses and services agreement with Duracell Inc.
For the first quarter ended March 31, 2000, research and development expenses decreased nine percent to $0.92 million from $1.01 million for the same period in 1999. This decrease resulted primarily from reduced personnel-related expenses and reduced depreciation expenses.
David W. Dorheim, president and CEO, stated, "During this first quarter of 2000 we continue to move forward in our business and technology development activities. We are diligently working to obtain additional license agreements, which will generate revenues from license fees and royalties."