Pressure BioSciences announced financial results for the second quarter ended June 30, 2015. For the three months ended June 30, 2015, products and services revenue was $333,575 compared to $307,464 for the same period in 2014, an increase of 8.5%.
Article continues below
Sales of consumables were $56,513 for the three months ended June 30, 2015 compared to $48,417 for the same period in 2014, an increase of 16.7%.Company operations included $79,529 of grant revenue for the second quarter of 2015 compared to no grant revenue for the comparable period in 2014.
Total revenue for the 2015 second quarter was $413,104 compared to $307,464 for the same period in 2014, a 34.4% increase. This increase was due to increases in both product and services and grant revenue in the second quarter of 2015.
Operating loss for the 2015 second quarter was $1,063,889, compared to $846,757 for the same period in 2014. Operating expense increases were primarily due to an expansion of our market awareness program, our grant and investor relations programs in Poland, and increases in legal, patent, marketing, and research & development.
For the six months ended June 30, 2015, products and services revenue was $692,939 compared to $711,611 for the same period in 2014, a 2.6% decrease. Sales of consumables were $96,348 for the six months ended June 30, 2015 compared to $103,029 for the same period in 2014, a 6.5% decrease.
Grant revenue for the six months ended June 30, 2015 was $160,299 compared to no revenue for the same period in 2014. Total revenue for the six months ended June 30, 2015 was $853,238 compared to $711,611 for the same period in 2014, a 20% increase.
Operating loss for the six months ended June 30, 2015 was $1,938,708 compared to $1,629,123 for the same period in 2014. Operating expense increases were primarily due to an expansion of our investor relations and market awareness programs, as well as to increases in legal, patent, marketing, and research & development.
Loss per common share – basic and diluted – was $0.07 for the second quarter of 2015 compared to $0.05 for the same period in 2014. Loss per common share – basic and diluted – was $0.14 for the six months ended June 30, 2015 compared to $0.30 for the same six-month period of 2014. ■