Amerigon announces second-quarter results.MONROVIA Monrovia, city, Liberia Monrovia (mənrō`vēə), city (1986 est. pop. 465,000), capital of the Republic of Liberia, NW Liberia, a port on the Atlantic Ocean at the mouth of the St. Paul River. , Calif.--(BUSINESS WIRE)--Aug. 14, 1995--Amerigon Inc. (Nasdaq:ARGNA) Monday Monday: see week. reported results for its second quarter and six-month period ended June June: see month. 30, 1995. Revenues for the quarter more than doubled to $1,689,000 from $730,000 a year ago. The company sustained a net loss of $1,190,000, or 36 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with a net loss $862,000, or 26 cents per share, last year. Revenues for the six months climbed to $2,586,000 from $1,261,000 a year earlier. For the same period, the company reported a net loss of $2,465,000, or 75 cents per share, vs. a net loss of $2,057,000, or 62 cents per share, for the corresponding six months a year ago. Dr. Lon E. Bell, chairman and chief executive officer, noted that the increase in revenues for the quarter was primarily due to development contracts related to a previously announced electric vehicle program. He noted that financial results were impacted by an increase in development and research costs associated with another major electric vehicle program which did not exist last year. Bell emphasized that Amerigon is continuing to make progress positioning the company for the expected release of Amerigon's first commercial product, the AudioNav, a new concept in auto navigation, by year end. Founded in 1991, Amerigon designs and manufactures proprietary, high-margin products for the commercial automotive and emerging electric vehicle markets. -0-
AMERIGON INC.
(A Development Stage Enterprise)
STATEMENT OF OPERATIONS
(In thousands except for share and per-share data)
(Unaudited)
Three Months Six Months
Ended June 30, Ended June 30,
1995 1994 1995 1994
Revenues: Grants $ 180 $ 460 $ 406 $ 688 Prototypes 85 255 211 558 Development contracts 1,424 15 1,965 15 Other -- -- 4 -- Total revenues 1,689 730 2,586 1,261
Costs and expenses:
Direct costs incurred
for grant activities 152 247 324 402
Direct costs incurred
for prototypes sold 31 152 58 491
Development contract
costs 1,267 15 1,808 15
Research and development 678 451 1,333 964
Preproduction costs 145 47 200 47
Selling, general
and administrative,
including reimbursable
administrative costs 644 740 1,433 1,519
Total costs
and expenses 2,917 1,652 5,156 3,438
1,228 922 2,570 2,177
Interest Income 38 60 105 120 Net loss $ 1,190 $ 862 $ 2,465 $ 2,057 Net loss per share $ 0.36 $ 0.26 $ 0.75 $ 0.62 Weighted average number of shares outstanding 3,300,000 3,300,000 3,300,000 3,300,000 CONTACT: Amerigon Inc., Monrovia Adi ADI acceptable daily intake. Liberman, 818/932-2001 or Pondel Parsons Parsons, city (1990 pop. 11,924), Labette co., SE Kans.; inc. 1871. It is a shipping point for dairy products, grain, and livestock. Manufactures include ammunition, wire and paper products, plastics, and appliances. & Wilkinson Noun 1. Wilkinson - English chemist honored for his research on pollutants in car exhausts (born in 1921) Sir Geoffrey Wilkinson , Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Gary Gary, city (1990 pop. 116,646), Lake co., NW Ind., a port of entry on Lake Michigan; inc. 1909. Gary was founded by the U.S. Steel Corporation, which purchased the land in 1905 and landscaped it for a city. S. Maier Maier is a surname, and may refer to:
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