Impedance cardiography (ICG) technology developer CardioDynamics of San Diego posted net sales for its fiscal 2006 first quarter (end-February 28) of $6.5 million, a decrease of 33% compared with sales of $9.7 million for the same period in the 2005 fiscal year.
The firm reported a net loss for the period of $3.5 million, a sharp downturn compared with net losses of $644,000 reported in the same quarter the prior year.
The company attributed the downturn to the ongoing effects of Medicare's restriction of ICG hypertension coverage and a large percentage of new sales and sales management personnel who were not fully productive in the quarter.
By AuntMinnie.com staff writers
April 7, 2006
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