Electrophysiology device developer EP MedSystems of West Berlin, NJ, reported its fiscal 2004 third-quarter results with a dramatic increase in revenue and a decrease in losses.
Revenues for the third quarter (end-September 30) were $4.7 million, representing a 116% increase over the third-quarter 2003 revenues of $2.2 million, the company said. Loss from operations was $710,000 for the period, an improvement of 65% compared to a loss of $2 million for the third quarter of 2003.
For the first nine months of the fiscal year, revenues were $11.2 million, a 64% increase compared to the $6.8 million reported in same period last year. The net loss for the first three quarters was $3.9 million, compared to $5.9 million in the first nine months of fiscal 2003, the company said.
By AuntMinnie.com staff writers
October 27, 2004
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EP MedSystems gets FDA nod for EP-4 cardiac stimulation system, March 4, 2004
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