Catalytica Energy Systems Reports First-Quarter Financial Results
Catalytica Energy Systems Inc. (Mountain View, CA) reported financial results for the first quarter ended March 31, 2001. Revenues for the first quarter of 2001 were $1,446,000, compared with $1,275,000 for the same period of the prior year. Net loss for the quarter was $3,725,000, or a loss of $0.29 per share. The prior year's net loss was $953,000.
“These results are in line with our expectations for the quarter. They reflect an increased investment in research and development that has enabled us to achieve a number of recent milestones including the shipment of Xonon modules for testing," stated Craig Kitchen, president and CEO of Catalytica Energy Systems.