RiT Technologies (RITT) reported that its first-quarter of 2013 net loss was $2.9 million, or $0.37 per share, compared to a net loss of $2.8 million, or $0.54 per share in the first quarter of 2012. The latest-quarter result included $545,000 in stock-based compensation expenses. The prior year result included $64,000 in stock-based compensation expenses.
Revenues for the first quarter of 2013 increased 30% to $1.8 million, compared to $1.4 million for the first quarter of 2012.
"We plan to continue making significant investments in R&D as well as in marketing of our products in line with our long-term plan and expect to see first sales of our new Beamcaster and PatchView+ product lines during the third quarter of 2013," said Vadim Leiderman, RiT's President and CEO.
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