Charges connected with making more shares of its stock available contributed to Phototron Holdings Inc. posting a net loss in the third quarter when compared to a year ago.
The Woodland Hills-based developer and manufacturer of indoor hydroponic growing systems showed improvement with revenues due to new product lines and expanded marketing efforts.
Phototron reported a net loss of $2.8 million on revenues of $210,000 for the quarter ending Sept. 30. For the same period in 2010, the company reported net income of $38,000 on revenues of $92,000.
The quarter was a transformative period in the company’s development as it sees results from growth initiatives, said Phototron CEO Brian Sagheb.
“After investing heavily in our restructuring, realignment, and new product development Phototron is now starting to capitalize on our strong foundation and effectively monetizing on our new marketing models,” Sagheb said.
Phototron is listed on the over-the-counter bulletin board.