Revenues were $20,000 for the quarter compared to revenues of $393,000 for the same period of 2007. The decrease in revenue is the result of completion of development contracts with both California and New York states as well as the Department of Energy in 2007.
During the first quarter of 2008, Beacon Power incurred costs of $3.03 million for research and development, an 83% increase compared to $1.66 million for the same quarter of 2007.
Selling, general and administrative expenses were $2.18 million during the quarter, a 54% increase compared to $1.41 million for the same period of 2007.
