CST 0.00% $3.77 cellestis limited

reports can make it hard sometimes

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    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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