Noise Cancellation loses $6.1 million

November 17, 1992|By Bloomberg Business News

STAMFORD, Conn. -- Noise Cancellation Technologies Inc. said its third-quarter loss widened to $6.09 million, or 10 cents a share, from $739,572, or 1 cent, in the same quarter a year ago.

Results reflected a charge of $4.02 million, or 7 cents a share, for a change in the vesting rights of warrants issued. The weighted average number of shares outstanding increased 18 percent, to 62.77 million.

Revenue rose to $1.11 million, from $990,685.

The company, which has research and development operations in Linthicum, said it made "significant" expenditures in the latest quarter in preparation for production. The company is developing technology that can be used to eliminate noise by analyzing its wavelength and emitting a counter-wavelength.

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