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Article: Millennium Cell Announces Q1 2002 Results of Operations; Company Books First Revenue During the Quarter; Achieves Several Key Milestones Towards Commercial Success.
- Article from:
- Business Wire
- Article date:
- April 23, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
EATONTOWN, N.J.--(BUSINESS WIRE)--April 23, 2002
Millennium Cell Inc. (NASDAQ: MCEL), a development-stage company that has created a proprietary technology to safely store, generate and deliver pure hydrogen, today reported an adjusted net loss of $3.6 million or 13 cents per share (adjusted for non-cash charges) for the first quarter of 2002 ended March, 2002.
This compares with an adjusted net loss of $1.9 million or 7 cents per share for the first quarter ended March, 2001.
"We are pleased to announce that we booked our first revenue in the first quarter of 2002 in the amount of $0.4 million, representing the sale ...