TTR Technologies, Inc. (NASDAQ NM: TTRE; Berlin TEJ), a leading developer of digital anti-piracy technologies, today reported a loss for the first quarter, ended March 31, 2002.
For the three months ended March 31, the company reported an operating loss (not including non-cash stock-based compensation charges and the accrual for the severance of its former chief operating officer) of $865,143 compared to an operating loss of $930,467 in the fourth quarter of 2001 and $1,266,340 for the same period in 2001. The company's net loss for the period was $950,152, or $0.05 per basic and diluted share, compared to a net loss of $1,291,867, or $0.07 per basic and diluted share, for the 2001 period.
TTR had no revenues in the quarter. Cash and short-term investments at March 31, 2002, were $3.96 million. The company has no long-term debt.