WILMINGTON, Mass., Sept. 29, 2014 /PRNewswire/ -- Implant Sciences Corporation (IMSC), a high technology supplier of systems and sensors for the homeland security market and related industries, today announced financial results for the three months and fiscal year ended June 30, 2014.
Revenues for the three months ended June 30, 2014 decreased 36%, to $1.5 million, from $2.4 million for the comparable prior year period. Our net loss for the three months ended June 30, 2014 was $5.7 million as compared with a net loss of $5.5 million for the comparable prior year period, an increase of $0.2 million. The increase in the net loss is primarily due to lower sales and gross margin, increased operating expenses and increased interest expense in the three months ended June 30, 2014, partially offset by a $1.3 million decrease in stock-based compensation recorded on the September 2012 officer and director option grants.
