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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.
Revenues for the fiscal year ended June 30, 2014 decreased 29%, to $8.6 million, from $12.0 million for the comparable prior year period. Our net loss for the fiscal year ended June 30, 2014 was $21.0 million as compared with a net loss of $27.3 million for the comparable prior year period, a decrease of $6.3 million. The decrease in the net loss is primarily due to an $11.3 million decrease in stock-based compensation recorded in the fiscal year ended June 30, 2014 on option grants to our directors and officers in September 2012, offset partially by lower sales and gross margin, increased operating expenses and increased interest expense.
Earnings before interest, taxes, depreciation, stock-based compensation, warrants issued to non-employees and common stock issued to consultants ("Adjusted EBITDA"), which is reconciled to net loss in this press release, were a loss of $3,152,000 in the three months ended June 30, 2014, compared to a loss of $1,928,000 in the comparable prior year period and, for the fiscal year ended June 30, 2014, a loss of $10,048,000, compared to a loss of $6,948,000 in the comparable prior year period.
