Electrophysiology device developer EP MedSystems of West Berlin, NJ, reported growth in revenues but also a higher net loss in financial results for its 2007 fourth quarter.
For the period (end-December 31), the company posted revenue of $5.6 million, a 29% increase over the $4.4 million reported for the same period in 2006. Total revenue for the 12 months was $18.9 million, a 21% increase over the same period in 2006.
EP MedSystems sustained a net loss of $2.1 million for the fourth quarter, compared to a loss of $1.2 million in 2006. For fiscal 2007, the company's net loss was $5.5 million, compared to a net loss of $6.7 million in fiscal 2006.
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