N-Viro files quarterly financial report

Environmental biotech company N-Viro has filed its quarterly report for the three months ended 31 March 2010, posting revenues of $1.4m (£1m) – a 20 per cent increase over fourth-quarter 2009 revenues of $1.2m and matching first-quarter 2009 revenues of 1.4m

Gross profit for the reporting period was $374,000 – an 81 per cent increase over $207,000 in the previous quarter and a four per cent decrease compared with $391,000 in first-quarter 2009.

Net loss increased to $1.1m, or $0.22 per share, for the quarter, compared with a net loss of $544,000, or $0.11 per share, for the fourth quarter ended 2009 and a net income of $20,000, or $0 per share, for the same period a year ago.

Non-GAAP adjusted cash earnings were $7,000 for the quarter – this compares with a loss of $59,000 for fourth-quarter 2009 and earnings of $55,000 for first-quarter 2009.