BURLINGTON, Mass.-Lightbridge Inc. reported its net income for 1997, before acquisition-related charges, totaled $1.5 million, or 10 cents per share, compared with net income of $1.6 million, or 10 cents per share, in 1996.
Revenues for the year increased 37.3 percent to $40.6 million, from $29.5 million the year before. The company reported $13.3 million in revenues for the fourth quarter compared with $8.9 million the previous year.
Net loss for the fourth quarter was $15.4 million, or a loss of $1.01 per share, after giving effect to all of the acquisition-related charges. Net income for the quarter ended Dec. 31, before the nonrecurring charge for the write-off of purchased research and development, was $674,000, or a loss of $0.04 cents per share.
The acquisition-related charges, which resulted from Lightbridge’s acquisition of Coral Systems Inc. on Nov. 7, consisted of a previously announced nonrecurring charge of $16 million for certain purchased in-process research and development by Coral at the time of the acquisition, as well as charges relating to the amortization of goodwill and of acquired technology and costs of integration.
