Commonwealth Biotechnologies, Inc. Announces Full Year 2006 Results

RICHMOND, Va.--(BUSINESS WIRE)--Commonwealth Biotechnologies, Inc. (NASDAQ Capital Market: CBTE) released its financial results for the full year ended December 31, 2006. Revenues for the fourth quarter were $1.39 resulting in full year sales of $6.54 million, a decrease of 16 percent over the $7.80 million reported for 2005. The decrease was primarily due to a decline in government sector contract revenues, for both the year and the quarter, which decreased from $4.22 million in calendar 2005 to $3.03 million in calendar 2006 and $1.15 in the fourth quarter 2005 to $0.66 in 2006, respectively.