MARTINSRIED (dpa-AFX) - Medigene AG (MDGEF.PK) reported a first-quarter loss of 3.27 million euros, compared to a loss of 124 thousand euros prior year. The company noted that the increased loss from prior year is a consequence of the one-time compensation effect, as well as a revaluation of an investment of 2.2 million euros which was posted for the first quarter of prior year.
Revenue increased to 680 thousand euros from 604 thousand euros last year. Total revenue amounted to 1.3 million euros, compared to 1.6 million euros in the first quarter of 2012, when Medigene received a one-time compensation payment of 0.4 million euros. Disregarding the one-time effect in the previous year's first quarter, total revenue increased by 6%.
Medigene confirmed its operational and financial guidance for 2013. The company expects to increase total revenue in 2013 to about a range of 7 milion euros-8 million euros.
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