News Column

BRIEF: Boulder-based Encision reports drop in sales for fiscal 1Q

July 29, 2014

By Alicia Wallace, Daily Camera, Boulder, Colo.

July 29--Encision Inc., a Boulder-based manufacturer of minimally invasive surgical devices, narrowed its first-quarter net loss but recorded lower sales during the quarter that ended on June 30, officials announced Tuesday.

Encision (OTCBB: ECIA) posted a net loss of $202,000, or 2 cents per share, on revenue of nearly $2.48 million during its fiscal first quarter. In the comparable year-ago period, Encision lost $311,000, or 4 cents per share, on revenue of $2.68 million.

"We are disappointed with our 8 percent decrease in net revenue for the first quarter compared to last year's first quarter,"?Greg Trudel, Encision's president and chief executive officer, said in a statement accompanying the earnings release.?"We have realigned our sales structure and increased regional responsibilities among our team to provide greater customer support and drive results in the U.S. market."

Trudel added that the impending launch of Encision's new AEM EndoShield Burn Protection System could further boost the momentum of the company's stepped-up sales efforts.

As of June 30, Encision had cash and cash equivalents of $1.15 million, down from the $1.69 million recorded on March 31.


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Source: Daily Camera (Boulder, CO)

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