Catalytica Energy Systems Reports First-Quarter Financial Results

May 16, 2001 by Jeff Shepard

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.