Arizona Star 5/12/09
Tucson-based Applied Energetics Inc., a developer of directed- energy systems for military and security uses, posted a first-quarter net loss of $3 million, or 4 cents per share, compared with a net loss of $3.6 million and 4 cents a year ago.
Quarterly revenue was about $2.6 million, compared with approximately $2 million for the same period last year. The company attributed the increase mainly to ongoing work for the Marine Corps under a contract received in June 2008 for development of devices to counter improvised explosive devices, and a modification to a contract involving laser-guided energy technology.
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