Tuesday, May 31, 2005

Second Quarter Results

Rubber Blog Pharmaceuticals and Model Train Figurines [RBPMTF, 100% Blue Agave] today reported financial results for the second quarter of fiscal 2005, ended March 31, 2005. RBPMTF reported a net loss of $15.1 million, or $0.14 per share, compared to $6.9 million, or $0.09 per share, for the same period a year ago. (Friggin' ATM fees.) Contributing to the loss in the second quarter were the Company's expenditures related to ongoing clinical development programs and a $7.2 million charge for all that taffy we bought.

Total operating expenses for the second quarter of fiscal 2005 were $14.8 million, compared to $7.6 million in the same period a year ago. (Look, green fees ain't cheap.) Expenditures on research and development and tanning and cauliflower (R&D & T&C) programs accounted for 77% and 71% of total operating expenses for the quarters ended March 31, 2005 and 2004, respectively. R&D & T&C expenses for the second quarter of fiscal 2005 amounted to $11.4 million, compared to $5.4 million for the same period a year ago. (Perhaps we should switch to broccoli.) This increase in R&D & T&C spending was principally attributable to the $5.6 million charge for the acquisition of additional rights to camp out near that old Drive-In, which was partially offset by lower expenditures as the Company completed its development work for new speakers in the basement (full surround sound capability pending).

Please refer all accounting and railroad crossing questions to the third teller on the left at Hollywood Park.

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