AER Energy Resources Reports Operating Results for Second Quarter 2000

July 31, 2000 by Jeff Shepard

AER Energy Resources Inc. (Atlanta) has announced operating results for the second quarter ending on June 30, 2000. The company's second quarter net loss for 2000 was $1.26 million, or $0.05 per share, versus a net loss of $0.91 million, or $0.04 per share, for the same period in 1999. Revenues of $0.11 million and $0.50 million for the second quarters ending on June 30, 2000 and 1999, respectively, were earned from the Technology Licenses and Services Agreement with Duracell Inc. (Bethel, CT).For the second quarter, research and development expenses decreased 12 percent to $0.86 million from $0.98 million for the same period in 1999. This decrease resulted primarily from reduced materials and tooling expenses, lower personnel-related expenses, and reduced depreciation expense.