09:17 AM EDT, 05/14/2024 (MT Newswires) -- Hamilton Thorne ( HTLZF ) reported a wider first-quarter loss on higher operating expenses, despite a 16% increase in sales.

The company, which services the assisted reproductive technologies and cell biology markets, reported a first-quarter net loss of $900,000, or $0.01 per share, from a loss of $700,000, or nil per share, last year.

Sales rose 16%, to $19.4 million, from $16.7 million, the year before. Organic sales growth was 9%.

Operating expenses for the quarter was $10.2 million, compared with $8 million, for the prior year quarter.

Hamilton Thorne ( HTLZF ) is on track to achieve double digit organic growth in 2024, continuing through the longer term. It anticipates delivering revenue of between $78 million and $82 million, equivalent to 10-15% organic growth for the full year.