Nelson Research Co. Reports More Losses
Nelson Research & Development Co. Monday reported a $672,000 net loss for the second quarter, compared with a net loss of $523,000 a year ago. The Irvine drug research firm said revenue during the quarter fell 17% to $709,000 from $860,000.
For the first six months of 1986, Nelson posted a net loss of $1.7 million, up from $951,000. First-half revenue fell 17% to $1.4 million from $1.7 million.
Nelson officials said in a statement that the poor results were in line with expectations and blamed them on increased marketing and administrative expenses and lower interest income resulting in part from declining interest rates.
For all of 1986, the company added, losses are expected to be about even with the $2.4 million the firm lost in 1985.
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