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Forbes Medi-Tech rings up more revenue in 2007, but posts another loss

Forbes Medi-Tech Inc. (TSX:FMI; NASDAQ:FMTI; NASDAQ:FMTID) reported a 31% increase in revenue for 2007 compared with 2006, but the Vancouver life sciences company also incurred a net loss of $11.6 million. Its 2007 operating loss amounted to $0.

Forbes Medi-Tech Inc. (TSX:FMI; NASDAQ:FMTI; NASDAQ:FMTID) reported a 31% increase in revenue for 2007 compared with 2006, but the Vancouver life sciences company also incurred a net loss of $11.6 million.

Its 2007 operating loss amounted to $0.30 per share compared with a net per-share loss of $0.48 in 2006.

But Forbes said it achieved its 2007 revenue guidance goal of $8.7 million and anticipates sales of between $9.7 million and $10.5 million for 2008.

Forbes' share price range during the past week: between $0.90 and $0.97, 52-week high: $7.36; 52-week low: $0.79.