Calypte Announces Fourth Quarter and Year End Results
LAKE OSWEGO, Ore., April 4 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (OTC Bulletin Board: CBMC), medical diagnostic tests manufacturer for the rapid detection of antibodies to the human immunodeficiency virus (HIV) announced today announces its financial results for the fourth quarter and year ended December 31, 2006.
For the fourth quarter ended December 31, 2006, Calypte recorded revenues of $339,000, compared with $133,000 in the fourth quarter of 2005. The net loss for the quarter was approximately $2.4 million, or $0.01 per common share, in 2006 compared with a net loss of $754,000, or $0.004 per common share in 2005. Net loss for the quarter includes non-cash interest expense of $1.1 million in 2006 and non-cash interest income of $1.2 million and expense of discontinued operations of $0.8 million in 2005.
For the year ended December 31, 2006, Calypte reported revenues of $547,000, compared with $427,000 in 2005. The net loss for 2006 was $13.8 million, or $0.07 per common share, compared with a net loss of $8.8 million, or $0.05 per common share, for 2005. The net loss for 2006 includes non-cash interest expense of $8.2 million and for 2005 non-cash interest income of $2.0 million and $3.1 million expense from discontinued operations of 2005.
As noted in the Company's March 29, 2007 announcement regarding its completion of a $5.2 million PIPE transaction, Calypte management will host a conference call tomorrow, Thursday, April 5, 2007, at 4:30 PM Eastern Time to discuss the Company's fourth quarter and year end financial results as well as provide an operations update.