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Nuvo announces 2009 first quarter financial results
Date:4/30/2009

---------------------------------- ------------------------------------------------------------------------- NUVO RESEARCH INC. CONSOLIDATED STATEMENTS OF LOSS, COMPREHENSIVE LOSS AND DEFICIT Three-months ended Unaudited March 31, March 31, (thousands of Canadian dollars except 2009 2008 per share and share amounts) $ $ ------------------------------------------------------------------------- REVENUE Product sales 2,383 1,975 Cost of goods sold 1,134 1,084 ------------------------------------------------------------------------- Gross margin on product sales 1,249 891 Other revenue Licensing fees 560 250 Research and other contract revenue 104 11 ------------------------------------------------------------------------- 1,913 1,152 EXPENSES Research and development 2,934 2,104 Selling, general and administrative expenses 1,363 1,124 Stock-based compensation 132 150 Amortization of property, plant, and equipment and intangibles 149 205 Foreign currency gain (9) (279) Interest expense 246 303 Interest income (34) (184) -------------------------------------------------------------------------
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