Applied Energetics Reports Q1 Revenue Slide

Applied Energetics Inc., manufacturer of applied energy systems for military and commercial applications, reported that revenue for the first quarter of 2011 decreased by 22.2 percent to approximately $2.8 million compared with $3.6 million for the same period last year.

In the first quarter of 2011, revenue for the counter-IED program decreased by $454,000 to $1.7 million, revenue from laser-guided energy decreased by $130,000 to $707,000, and revenue for the ultrashort-pulse laser product line decreased by $420,000 to $146,000; however, revenue from high-voltage products increased by $226,000 to $233,000.

Net loss attributable to common stockholders for the first quarter of 2011 was $1.4 million, or $0.02 per basic and diluted common share, compared with the prior comparable period net loss attributable to common stockholders of $1 million, or $0.01 per basic and diluted common share.

As of March 31, the company had approximately $8.3 million in cash and cash equivalents as compared with $9.0 million in cash and cash equivalents at Dec. 31, 2010. As of March 31, the backlog was approximately $1.2 million, which is to be completed in the next 12 months.

For more information, visit: www.appliedenergetics.com