Corgenix reports record revenue for year
Broomfield-based Corgenix (OTC BB: CONX.OB) said revenue was $9,289,358 for the fiscal year ended June 30, compared with $7,941,576 for the previous year, a 17 percent increase.
The company also reported a net loss of $623,391 for the fiscal year, compared with $414,553 for the prior year. Corgenix sells more than 50 medical diagnostic kits for use in clinical labs to test for such health issues as immunology disorders, vascular diseases and bone and joint disorders.
"Fiscal 2012 showed higher operating and net losses, resulting from a planned increase in operating expenses, along with a shift in product mix," company president Douglass Simpson said in a press statement.
Fiscal year results reflected the company's efforts to expand market demand for its AspirinWorks diagnostic test, which measures how well an aspirin therapy is working to reduce the risk of heart attack and stroke in a healthy individual, according to the press statement. Sales more than doubled for the AspirinWorks test in fiscal 2012, the company said.
In addition, the fiscal year results reflect Corgenix's focus on growing its contract manufacturing business and rebuilding its international customer base, Simpson said in the press statement. The company plans continued double-digit revenue growth leading to profitability in fiscal 2013, Simpson said.
Corgenix has 48 employees, according to documents filed with the U.S. Securities and Exchange Commission.
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