SpaceDev's Revenue for First Quarter Fiscal 2006

SpaceDev reported their revenue and earnings for the firsts quarter of 2006 this morning. Revenue was up 290% from $1.8 million last year to $7.2 million.

Income was down from $101,000 to $7000, but that was due to a stock option expense as well as additional expenditures related to preparation of two contract proposals during the first quarter of 2006. SpaceDev won a contract with the Air Force Research Laboratory Space Vehicles Directorate on one of the proposals. The other one was NASA's COTS program. SpaceDev is one of six finalists for COTS.