Aeolus Pharmaceuticals Inc. reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2014. The company reported net loss of $437,000. This compares to net loss of $5,782,000, including a non-cash adjustment for increases in valuation of warrants of $5,020,000, or $0.06 per basic and diluted share, for the three months ended March 31, 2013. Contract revenue was $1,438,000, against $859,000 for the three months ended March 31, 2013. The revenue is from the contract with BARDA announced on February 11, 2011. Higher revenue in 2014 reflects both the timing of the initiation of program items as well as revenue recognition under accounting rules. Loss from operations was $437,000 against $762,000 last year.

For the six months ended March 31, 2014, the company reported net loss of $1,132,000 or $0.01 per basic and diluted share. This compares to net loss of $1,755,000, including a non-cash adjustment for increases in valuation of warrants of $510,000 or $0.03 per basic and diluted share for the six months ended March 31, 2013. Contract revenue was $2,231,000, against $2,201,000 last year. Loss from operations was $1,132,000 against $1,245,000 last year. Net cash used in operating activities was $349,000 against $1,913,000 last year.