MONTREAL, QUEBEC--(Marketwire - August 14, 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 second quarter ended June 30, 2008. ART reported revenues of $1,212,860 for the three-month period ended June 30, 2008, compared to $41,951 for the same quarter a year ago. For the six-month period ended June 30, 2008, revenues were $2,454,781, compared to $436,165, for the six-month period ended June 30, 2007. For the 2008 second quarter, the operating loss decreased by $2,181,181, or 67%, to $1,090,963, from $3,272,144 for the same period a year ago. For the six-month period ended June 30, 2008, the operating loss was $2,425,284, compared to $5,476,408, for the six-month period ended June 30, 2007. ART incurred a net loss for the three-month period ended June 30, 2008, of $1,101,220 or $0.01 per share, compared to $3,170,391 or $0.06 per share for the three-month period ended June 30, 2007. For the six-month period ended June 30, 2008, the net loss was $2,380,676 or $0.02 per share, compared to $4,739,077 or $0.08 per share, for the six-month period ended June 30, 2007. All dollar amounts referenced herein are in U.S. dollars, unless otherwise stated.
