Altair Nanotechnologies Reports Q1 2002 Results

May 28, 2002 by Jeff Shepard

Altair Nanotechnologies Inc. (Reno, NV) reported its financial results for the first quarter ended March 31, 2002. For the three months ended March 31, 2002, Altair reported net revenues of $48,937, surpassing revenues of $42,816 for the entire year of 2001. The company reported a net loss for the quarter of $1.7 million, or a net loss per share of $0.07. This compares to a net loss of $1.9 million, or a net loss per share of $0.10, for last year's comparable quarter.

Altair CEO William Long stated, "It has been an exciting, as well as challenging, period and we are pleased to have transitioned from a research and development company into a provider of nanomaterials for commercial, market-driven applications. This transition has been extremely helpful when we are meeting with companies that, after touring our facilities, are excited to find a nanomaterials company with the technology, staff and capacity to manufacture tons of high-quality nanomaterials instead of milligrams."