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SpaceDev Revenue Roars Higher, But Firm Ends Year With a Loss

SpaceDev Inc., a Poway-based space technology company, reported a net loss of $952,372 on revenue of $32.6 million for 2006.

The company reported the figures April 2.

That compared with a net profit of $501,264 on revenue of $9 million for all of 2005.

The company noted that it achieved its third consecutive year of revenue growth, while attaining positive earnings before income taxes and depreciation.

The company grew its sales mainly through the acquisition of another space technology firm, Starsys, which generated revenue last year of $21 million.

Said President and Chief Financial Officer Richard B. Slansky, “Although we recorded a net loss for 2006 on a combined basis, it was substantially less than pro forma losses in the past two years.”

Traded on the Over the Counter Bulletin Board under SPDV.OB, shares closed April 2 at 95 cents, and have ranged from 65 cents to $1.58 in the past 52 weeks.

, Mike Allen

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