(In thousands, except per share data)
(Unaudited)
Three Months Ended Twelve Months Ended
October 31 October 31
2007 2006 2007 2006
Total revenues $793 $431 $2,556 $1,715
Cost of product revenues 2,628 2,643 11,654 11,994
Gross loss (1,835) (2,212) (9,098) (10,279)
Operating expenses:
Research and development 1,575 1,550 6,972 6,662
Impairment charge -
engineering and design
asset 11,277 ----- 11,277 -----
Sales and marketing 290 147 1,389 671
General and administrative 1,823 2,489 8,188 9,315
Total operating expenses 14,965 4,186 27,826 16,648
Loss from operations (16,800) (6,398) (36,924) (26,927)
Other income, net 114 117 642 473
Net loss $(16,686) $(6,281) $(36,282) $(26,454)
Basic and diluted net
loss per common share $(1.07) $(0.66) $(2.43) $(3.35)
Weighted-average common
shares outstanding 15,593 9,511 14,920 7,886
The net loss per common share for the three and twelve month period
ended October 31, 2006 has been adjusted to reflect the one-for-five
reverse split that took effect on October 2, 2007.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
October 31, 2007 October 31, 2006
Assets
Total current assets $5,253 $10,621
Net property and equipment 8,398 22,406
Other assets
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