Synbiotics on Monday reported record revenues and...
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Synbiotics on Monday reported record revenues and sharply reduced losses for the third quarter ended Dec. 31, 1989.
The biotech company reported a $556,000 net loss for the third quarter, contrasted with a $1.8-million net loss during the previous third quarter. Quarterly revenue nearly tripled, rising to $2.6 million, up from $887,000 reported during the like quarter the year before.
Synbiotics reported a $3.4-million net loss for the nine-month period ended Dec. 31, versus a $1.9-million net loss during the like period a year earlier. Revenue for the nine-month period dipped slightly, to $5.4 million, down from $5.5 million a year ago.
Synbiotics President and Chief Executive Edward T. Maggio linked the lower quarterly loss to “a substantial increase in product sales.”
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