Encision's quarterly revenue down 8%
Last Updated: 16:06 November 5, 2013
The Boulder-based company's revenue for the most recent quarter was an 8 percent decrease from the $2.9 million in revenue posted for the same period a year ago. Encision (ECIA:PK) posted a net loss of $265,000 and 3 cents per share in the same quarter in 2012.
The company makes surgical devices that can help prevent stray electrosurgical burns on patients during minimally invasive surgeries, the company said in the earnings report released Tuesday, Nov. 5.
At the same time, Encision is searching for a new chief executive, Pat Pace, executive chairman, said in the earnings report. Encision's CEO Fred Perner died unexpectedly Saturday, Aug. 31, from an apparent heart attack.
In April and May, Encision reduced its work force by an unspecified number to align expenses with revenue, Pace said in the earnings report. The company plans to roll out a new medical device product in the middle of 2014 after receiving expected approval for it from the Food and Drug Administration by the end of the year, Pace said.
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