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GLG Life narrows Q1 loss to $1.3M from $1.5M

Mon, 05/17/2010 - 12:10pm
The Associated Press

GLG Life Tech Corp. (TSX:GLG;NASDAQ:GLGL), a Vancouver-based maker of sugar-substitute products, reports its net loss in the first quarter fell to $1.3 million from $1.5 million a year earlier.

The company said Monday it lost five cents a share for the three months ended March 31, compared with an eight cents a share loss last year.

First quarter revenue grew 174 per cent to $8.2 million from $3 million in first quarter of 2009.

GLG Life supplies high purity extracts from stevia, a plant in the sunflower family which grows in Africa and South America and has sweet leaves. The plant's extracts are used as a sugar substitute and sweetener.

In Monday trading on the TSX, GLG shares fell one cent top $7.48.<

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