Electrophysiology device developer EP MedSystems of West Berlin, NJ, reported financial results for its fourth quarter and 2003 fiscal year (end-December 31).
Revenues for the fourth quarter were $3.2 million, representing a 10% increase over fourth-quarter 2002 revenues, the company said. Loss from operations was $1.3 million for the period, an improvement of 17%, compared with a loss of $1.5 million for the fourth quarter of 2002.
Revenues for the full year of 2003 were $10 million, a 19% decrease from the $12.4 million posted by the firm for 2002. However, revenue in 2002 included $1.2 million from an x-ray product line no longer sold by the firm, the company said.
The firm’s net loss for the year was $6.95 million, an increase compared with a net loss of $5.05 million for the same period in 2002.
By AuntMinnie.com staff writers
March 12, 2004
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