Ocean Power Technologies, Inc. (AMEX:OPTT) reported its first-quarter financial results after Monday's closing bell. Here's a look at the details from the report.
The Details: Ocean Power Technologies reported quarterly losses of five cents per share, up from losses of 12 cents per share from the prior year’s quarter. Revenue of $1.3 million for the first quarter was up from $1.27 million from the same period last year.
Operating expenses of $4.9 million decreased 39% year-over-year, reflecting previously disclosed restructuring and streamlining activities.
The company’s backlog was $5.3 ...
