SEATTLE--(BUSINESS WIRE)--Pacific Biometrics, Inc. (OTCBB:PBME) (“PBI”), a leading provider of specialized central laboratory and contract research services, released its financial results for the second quarter of fiscal 2007, ended December 31, 2006. Revenues for the second quarter decreased 29% to $2,218,846 from $3,113,248 for the comparable period last year. Operating income for the second quarter of 2007 was reduced to a net operating loss of $64,587 compared to a net operating income of $800,118 for the same period last year. Total net loss for the second fiscal quarter was $399,392, or $0.02 per share, compared with a net income of $556,456, or $0.04 per share, for the same period during fiscal 2006. Revenues for the six months ended December 31, 2006 were $4,823,730, compared to $4,947,690 for the same period last year. Net cash flow from operations for the six months ended December 31, 2006 improved, however, with net cash provided by operating activities of $4,889, compared to net cash used of $545,603 for the same period last year. Net decrease in cash and cash equivalents for the six months ended December 31, 2006 was $601,890, compared to $960,629 for the same period last year, and the cash and cash equivalents balance improved to $4,895,847 at the end of the period, compared to $477,914 for the same period last year.
