Encision reports positive revenue, income
Last Updated: 14:20 January 30, 2014
BOULDER - Medical-device company Encision Inc. posted revenue of $2.7 million and net income of $33,000 for the quarter ended Dec. 31.
The Boulder-based company's revenue for the most recent quarter was a 10.5 percent decrease from the $3.05 million in revenue posted for the same period a year ago, according to a company press statement. Encision (ECIA:PK) posted a net loss of $82,000 for the quarter ended Dec. 31, 2012.
The company makes surgical devices that can help prevent stray electrosurgical burns on patients during minimally invasive surgeries. Encision plans to market its trademarked AEM EndoShield Burn Protection System some time this spring, after receiving U.S. Food and Drug Administration approval for it in December 2013. AEM stands for active electrode monitoring.
In December, Encision raised about $2 million through a private placement of 2.5 million shares of stock, Greg Trudel, company president and chief executive officer, said in the press statement. The funds will be used to support marketing and sales of the AEM Endoshield device, Trudel said.
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