Arizona Star 8/10/2010
Tucson-based Applied Energetics Inc. narrowed its second-quarter loss as revenue rose by about 66 percent on higher sales of devices designed to counter the improvised explosive devices typically used by Iraqi and Afghan insurgents, the company said Monday.
The developer of directed-energy equipment posted a net loss of $745,000, or 1 cent per share, in the second quarter, compared with a net loss of $3.3 million, or 4 cents per share, in the same period a year ago.
Revenue rose to $2.9 million, compared with $1.7 million for the same period last year.
The company’s shares closed Monday at $1.32, up 4 cents, in trading on the Nasdaq Stock Market.
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