Business & Finance
PURE Bioscience announces unchanged USD0.04 per share for Q1 fiscal 2019 Q1
14 December 2018 -

SDC antimicrobial company PURE Bioscience Inc (OTCQB:PURE) stated on Thursday its net loss of USD2.6m (USD0.04 per share) for the fiscal first quarter ended 31 October 2018.

This is compared with net loss of USD2.3m (USD0.04 per share) in fiscal Q1 2018 quarter.

Revenues of USD590,000 was collected for the fiscal first quarter ended 31 October 2018, up 27% from the prior fiscal first quarter revenues of USD464,000.

The company said the increase in revenue was attributable to increased food safety sales. Core food safety revenues for the fiscal first quarter increased 124% as compared with food safety revenues in the first fiscal quarter of 2017. The increase in both total and food safety revenues was attributable to increased customer adoption.

Gross margin was 66% during fiscal Q1 2019, down versus 69% during the same period in fiscal 2018. The decrease in gross margin percentage was primarily attributable to the sale of lower margin formulations and packaging configurations of its products during the quarter ended 31 October 2018 as compared with the prior period.