Late friday, VIASPACE Inc. (VSPC.OB) announced its financial results for the quarter and year ended December 31, 2006.
Revenue for the fourth quarter of 2006 was $292,000, as compared with $103,000 in the same quarter of 2005, an increase of $189,000. Gross profit for the fourth quarter of 2006 was $53,000 compared with $6,000 for the comparable quarter of 2005.
Revenue for the year ended December 31, 2006 was $962,000, as compared with $432,000 in 2005, an increase of $530,000. Gross profit in 2006 was $196,000 compared with $77,000 for 2005.
Commenting on fourth quarter and year-end results, Dr. Carl Kukkonen, Chief Executive Officer of VIASPACE Inc., said, “The fourth quarter and full year of 2006 marks increased revenue for VIASPACE primarily due to our subsidiary VIASPACE Security Inc. reporting revenues on its contract with L-3 Communications, Security and Detection Systems (L-3).
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