Catalytica Reports Product Sales and Revenue Financial Results

Catalytica Inc. (Mountain View, CA) reported that net revenues for the three and six months ended June 30, 2000, decreased by 17.7 and 8.4 percent, respectively, when compared with the revenues in the same periods in 1999. Product sales decreased by 22.0 and 13.7 percent, respectively, during the three and six months ended June 30, 2000, when compared with the same periods in 1999. This decline in product revenues was partially offset by a significant growth in research revenues during these periods.

Research and development revenues increased by 80.3 and 96.3 percent for the three and six months ended June 30, 2000, respectively, when compared with the same periods in 1999. The company's research and development revenues are expected to increase in fiscal 2000 when compared with fiscal 1999, as the company continues to expand research and development efforts and sign new contracts with new and existing customers.