(RTTNews) - Wednesday, Nucryst Pharmaceuticals Corp., (NCST: News ) a manufacturer of medical products that fight infection and inflammation, reported a narrower loss for the second quarter ended June 30, 2009. The results reflected lower expenses and revenue increase in wound care products.

The company reported a net loss of $0.4 million, compared with a net loss of $1.7 million year-ago. Loss per share was $0.02, compared with a loss of $0.09 per share in the year-ago period.

The company's second quarter revenues increased to $4.9 million, from second quarter revenues of $4.7 million in the year-ago period.

"We are pleased with the progress we are making in driving the company towards profitability," said David B. Holtz, interim president and chief executive officer, and chief financial officer of NUCRYST. "We remain focused on managing the company with a lower cost structure while continuing to explore longer term strategic alternatives for the business," he added.

NUCRYST reduced its loss for the quarter by reducing its research and development spending as well as the general and administrative costs. Also, the company's revenues for wound care products increased.
The gross margin on product revenues increased to 43% in the second quarter of 2009, compared with 42% in the year-ago period. The improvement was primarily due to reductions in per unit manufacturing costs.

For the six months ended June 30, 2009, the NUCRYST reported a net loss of $1.4 million, compared with a net loss of $3.8 million year-ago. The loss per share was $0.08, compared with a loss of $0.21 per share in the year-ago period.

The company's year-to-date revenues declined to $9.09 million from $9.89 million year-ago.

NCST closed Tuesday's last trade on NASDAQ at $0.64.

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by RTT Staff Writer

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