Altair Nanotechnologies Inc. (Reno, NV) reported its financial results for the first quarter ended March 31, 2002. For the three months ended March 31, 2002, Altair reported net revenues of $48,937, surpassing revenues of $42,816 for the entire year of 2001. The company reported a net loss for the quarter of $1.7 million, or a net loss per share of $0.07. This compares to a net loss of $1.9 million, or a net loss per share of $0.10, for last year's comparable quarter.
Altair CEO William Long stated, "It has been an exciting, as well as challenging, period and we are pleased to have transitioned from a research and development company into a provider of nanomaterials for commercial, market-driven applications. This transition has been extremely helpful when we are meeting with companies that, after touring our facilities, are excited to find a nanomaterials company with the technology, staff and capacity to manufacture tons of high-quality nanomaterials instead of milligrams."
