Applied Energetics Reports Q1 Revenue Slide
TUCSON, Ariz., May 10, 2011 — 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