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reports can make it hard sometimes

  1. debono

    16,196 Posts.
    Intersting read...I especially liked the price at the bottom.Makes it hard for them if wrong information like this is quoted.

    Cellestis reports $2.4m net loss for year
    13:40, Thursday, 11 September 2003

    Sydney - Thursday - September 11: (RWE) - Cellestis Ltd incurred
    a net loss of $2.38 million in the 12 months to June 30, compared with a
    $1.64 million loss for the previous year.
    Revenues were $738,000, up from $583,000.
    Basic loss per share was 1.91c, against 2.69c.
    Directors said the main costs were incurred in marketing,
    particularly the set-up and expansion in the US, and in R&D activities
    designed to expedite development of the second-generation tuberculosis
    diagnostic, QuantiFERON-TB Gold.
    "The year's results reflect the company's establishment and
    development of its marketing efforts and continued investment in
    research and development.
    "The former has proven to be a process which requires time and
    consistent effort.
    "The long sales lead times and the need to develop the
    QuantiFERON-TB Gold test for sale in Japan and elsewhere means that the
    present trading outcome is likely to continue through the 2003/04
    financial year.
    "For these reasons it is difficult to forecast with precision
    when operations will become cash flow positive.
    "However the considerable support and interest being shown on
    QuantiFERON-TB, and in particular for the QFT-Gold test, has raised our
    expectations for increased sales in the second half of 2004," they said.
    The company has yet to pay a dividend.
    Shares in Cellestis today rose 5c to $2.20 and touched $2.34.

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