MRI Interventions added to its revenues and trimmed its net loss in the third quarter of 2015 (end-September 30).
Revenues in the third quarter almost doubled to $1.2 million, compared with $633,000 in the third quarter of 2014. The company's net loss improved to $245,000, compared with a net loss of $3.6 million in the same quarter a year ago.
For the first nine months of 2015, revenues advanced 17% to $3.1 million, compared with $2.6 million in the same period of 2014. The nine-month net loss increased to $7.2 million from $2.6 million in 2014.
The increased year-to-date net loss was due in part to restructuring charges of $1.3 million. These charges were related to the company's consolidation of all major business functions into its Irvine, CA, headquarters and the closure of its Memphis, TN, operations.
