Altair Nanotechnologies Inc. (Reno, NV) reported financial results for its third quarter ended September 30, 2004. The company reported that revenue for the third quarter of fiscal 2004 increased to approximately $347,000 compared to revenue of approximately $17,000 for the third quarter of fiscal 2003.
The net loss for the third quarter 2004 was $1.4 million, or a loss per share of $0.03, versus a net loss of $1.7 million, or a net loss per share of $0.05 for the comparable quarter in 2003. The gross margin for the third quarter was approximately $53,000, a considerable improvement when compared to a gross margin of approximately $46,000 on sales of approximately $154,000 for its second quarter ended June 30, 2004.
For the nine-month period ended September 30, 2004, revenue increased to approximately $641,000, with a net loss of $5.3 million, or a net loss per share of $0.11, compared to revenue for the nine-month period ended September 30, 2003, of approximately $42,000, with a net loss of $4.6 million, or a net loss per share of $0.13.
