"No surprises" in first half for AOI after R&D (research and development) widens net loss
This article was originally published in Clinica
Orlando, Florida-based orthopaedics specialist AOI Medical has stated that "everything is according to plan", despite seeing its net loss widen to $1.8m for the six months ending June 30 2007. The firm doubled its net loss to reflect its rising operating expenses - a result of a five-fold increase in R&D spending to $577,000, and administrative costs nearly doubling to $1m. During this period, the company also invested in expanding its workforce, and sales and marketing activities.