MR contrast developer Advanced Magnetics reported fiscal third-quarter revenues of $1.5 million, up 3.1% compared with the $1.4 million turned in during the same period a year ago. For the quarter (end-June 30), the Cambridge, MA-based vendor had a net loss of $778,000, compared with net income of $664,000 last year.
Advanced Magnetics attributed the loss to an increase in research and development expenses during the fiscal 2004 quarter. The firm also posted a net gain in marketable securities of approximately $729,000 in the third fiscal quarter of 2003, but had no net gains in fiscal third quarter of 2004.
By AuntMinnie.com staff writersJuly 19, 2004
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