Raser Technologies, Inc. reports Q2 results inline with the Street
Raser Technologies, Inc. (NYSE: RZ) shares are trading lower this morning in pre-market trading after the technology licensing and development company reported a net loss for the second quarter inline with estimates.
For the three months ended June 30, Provo, Utah-based company recorded a net loss of $3.2 million, or $0.06 cents per basic and fully diluted share that was exactly inline with the sole analyst who covers the company. The current quarter’s bottom line compares with a net loss of $5.0 million, or $0.10 per basic and fully diluted share, in the second quarter of 2006.
Raser’s revenue edged down from the prior period. The small-cap recognized revenue of $29,000, down from $34,000 in the second quarter of 2006. No analyst estimates were available for revenue.
Razer attributed the decline in revenue to a six month-delay of the company’s ARINC subcontract with the U.S. Army, stating that the delay was to allow other U.S. Army subcontractors to complete their assigned tasks
Shares of Razer edged down $0.04, or 0.32%, to $12.46 in pre-market trading.
