Pressure Biosciences (NASDAQ: PBIO) recently announced its September 2007 quarter highlights for the period ended September 30, 2007. The company posted revenue of $138,052, as compared to $92,211 for the same period in 2006. Revenue from the sale of the company’s Pressure Cycling Technology (PCT) sample preparation products and services was $106,787; up from $92,211 from the same period last year.
The increase in revenue is attributed to increased installations of PCTs, which rose to eight installations in the 2007 quarter, as compared to three for the same period of 2006. The company also sold two Barocycler NEP3229s, four Barocycler NEP2320s, rented out two Barocycler NEP3229s, as well as increased the number of PULSE Tubes sold.
Pressure Biosciences also reduced the overall production cost of the NEP3229 through reengineering efforts, while increasing its research and development staff and scientific projects within the company’s laboratories. Sales are expected to increase with the addition of the sales associates.
As of September 30, 2007, Pressure Biosciences had cash on hand and cash equivalents totaling approximately $6.0 million, as compared to $5.3 million on December 31, 2006. According to the statement, the company’s current funds are sufficient to support its growth objectives through the end of 2008.
The company was recently rated a “Strong Speculative Buy” by Dutton Associates due to its “unique and superior technology for the preparation of biological laboratory samples and is in the early stages of commercialization of its product platform.”
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