Canadian medical device company VSM MedTech of Vancouver, British Columbia, the parent of magnetoencephalography developer CTF Systems, posted a profitable second quarter. The company turned in revenues of Canadian $5.3 million ($3.8 million U.S.), a 71% increase compared with $3.1 million ($2.2 million U.S.) from the same period in 2002. The firm showed a profit for the quarter (end-June 30) of $586,000 ($417,000 U.S.), compared with a loss of $486,000 ($345,000) from the second quarter last year.
For the first half of its fiscal year, the company declared revenues of $9.4 million ($6.7 million U.S.), compared with $5.8 million ($4.1 million U.S.) booked for the same period in 2002. The vendor also had earnings of $845,000 ($601,000) in the first two quarters of 2003, compared with a loss of $917,000 ($653,000) for the first two quarters of last year.
By AuntMinnie.com staff writersAugust 1, 2003
Related Reading
CTF places three MEG units, June 26, 2003
VSM expands U.S. presence, June 19, 2003
VSM records strong Q1, April 25, 2003
CTF inks distribution deals, March 31, 2003
CTF signs UGA, February 28, 2003
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