Accelr8 Announces Fiscal 2010 Positive Earnings and Gain in Shareholders’ Equity
September 17 2010 - 8:00AM
Business Wire
Accelr8 Technology Corporation (NYSE Amex: AXK) announced
its financial results for the fiscal year ended July 31, 2010. For
the fiscal year, net sales revenues totaled $2,245,628; net income
from operations was $611,793 with total net income of $641,747. For
the previous year, net sales were $1,269,886 with a loss from
operations of $(679,119) and a total net loss of $(714,197).
Shareholders’ equity totaled $4,909,778 for 2010, up from
$3,894,494 at the end of the previous fiscal year.
Based upon these results, the company believes it complies with
the applicable Amex listing requirement of $4 million in
shareholders’ equity. The company’s 10-K annual report to the SEC
is available through the SEC’s Edgar website, or the Edgar link
through the company’s website at
www.accelr8.com/investor_information.php.
Accelr8’s president, David Howson said, “we are very pleased not
only with the profitable revenues but with the primary source being
a medical diagnostics company that has an exciting product line.
Nanosphere’s acceptance of OptiChem® coatings for use in new
high-performance diagnostic products helps to build our visibility
within the medical community and the diagnostics industry.”
“Our outside academic collaborations for the BACcelTM rapid
diagnostic platform also continue to make significant progress. We
now have three pre-clinical or clinical pilot studies running at
Denver Health and the Barnes-Jewish Hospital in St. Louis using
clinical specimens from ICU patients,” Howson concluded.
About Accelr8
Accelr8 Technology Corporation (www.accelr8.com) is a developer of
innovative materials and instrumentation for advanced applications
in medical instrumentation, basic research, drug discovery, and
bio-detection. Accelr8 is developing a rapid analytical platform
for infectious pathogens, the BACcelTM system, based on its
innovative surface coatings, assay processing, and detection
technologies. In addition, Accelr8 licenses certain of its
proprietary technology for use in applications outside of Accelr8’s
own products.
Certain statements in this news release
may be “forward-looking statements” within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. Statements
regarding future prospects and developments are based upon current
expectations and involve certain risks and uncertainties that could
cause actual results and developments to differ materially from the
forward-looking statement, including those detailed in the
company's filings with the Securities and Exchange Commission.
Accelr8 does not undertake an obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information or future events.
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