Spherix Inc. (SPEX) reported that its first-quarter net loss was $1.2 million or $0.31 per share, compared with a net loss of $0.2 million or $0.10 per share for the first quarter of 2011. The prior quarter result included a gain on a settlement of an obligation of $0.8 million.
Revenue for the quarter was $209,562 down from $306,303 last year.
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