MONTREAL, QUEBEC--(Marketwire - May 15, 2008) - ART Advanced Research Technologies Inc. (ART) (TSX: ARA), a Canadian medical device company and a leader in optical molecular imaging products for the healthcare and pharmaceutical industries, is pleased to announce its financial results for the first quarter ended March 31, 2008. ART reported revenues of $1,241,921 for the three-month period ended March 31, 2008, compared to $394,214 for the same quarter a year ago, an increase of 215%. For the 2008 first quarter, the operating loss decreased by $869,943, or 40%, to $1,334,321 from $2,204,264 for the same period a year ago. The Company posted a net loss of $1,279,456 ($0.01 per share) for the 2008 first quarter, compared to $1,568,686 ($0.03 per share) for the corresponding 2007 period. All dollar amounts referenced herein are in U.S. dollars, unless otherwise stated.
