Luna Innovations Incorporated announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company recorded net income attributable to common stockholders of $2.8 million or $0.17 per diluted share compared to a net loss attributable to common stockholders of $0.4 million or $0.03 per diluted share in the first quarter of 2012. Total revenues from continuing operations decreased to $4.5 million compared to $6.7 million in the first quarter of 2012, reflecting a decrease of $1.3 million in the Technology Development segment and a decrease of $0.8 million in the Products and Licensing segment. This decrease in revenue was driven primarily by decreased contract research revenue within the optical systems group and lower sales of telecom related test and measurement equipment. Total revenues decreased by 32%, from $6.7 million in the first quarter of 2012 to $4.5 million in the first quarter of 2013. Adjusted EBITDA, a non-GAAP measure declined to $1.3 million as compared to $0.1 million for the first quarter of 2012. Adjusted EBITDA decreased to loss of $1.3 million in the first quarter 2013 from $0.1 million in the first quarter of 2012. Operating loss was $1.96 million against $631,931 for the same period a year ago. Loss before income taxes was $1.94 million against $688,324 for the same period a year ago. Loss from continuing operations was $1.15 million or $0.08 per diluted share against $692,745 or $0.05 per diluted share for the same period a year ago. Net cash used in operating activities was $272,352 against $546,325 for the same period a year ago. EBITDA was $1.66 million against $324,565 for the same period a year ago. Acquisition of property and equipment was $50,255 against $104,719 for the same period a year ago. Intangible property costs as $11,777 against $48,246 for the same period a year ago.

Luna Innovations Incorporated announced that they will report Q1, 2013 results at 2:30 PM, GMT Standard Time on May 09, 2013

Luna Innovations Incorporated, Q1 2013 Earnings Call, May 09, 2013