Applied Energetics Reports 2011 Financial Results
TUCSON, Ariz. - March 23, 2012 - Applied Energetics, Inc., (AERG.OB) reported summary financial results for the twelve months ended December 31, 2011.
Year-to-Date 2011 Summary Financial Results
Revenue decreased approximately $8.0 million to $5.0 million for the year ended December 31, 2011 compared to 2010 primarily as a result of the reduction in Government spending on the Company’s technologies. The Company’s counter-IED revenue decreased by $6.9 million to $2.2 million in 2011 as work was completed on a contract supporting the USMC during the first half of 2011. Lased Guided Energy (LGE) revenue decreased by $822,000 to $2.1 million as the available funding was exhausted under a contract with Armament Research, Development and Engineering Center (ARDEC). Ultra Short Pulse (USP) Laser revenues decreased by $503,000 for the year ended 2011 largely due to the delivery of a USP Laser to the Navy in June of 2010. Offsetting these decreases in revenue was an increase in High Voltage revenue of $227,000 for the year ended 2011.
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