Boulder-based Encision posts loss, sees revenue drop 4 percent

BOULDER – Medical device manufacturer Encision Inc. (OTCQB: ECIA) on Friday reported a net loss of $417,000, or 4 cents per share, for the company’s fiscal third quarter that ended Dec. 31.

That follows a profit of $33,000, or less than 1 cent per share, for the same period a year earlier.

Revenue was down 4 percent for the period, from $2.7 million to $2.6 million.

SPONSORED CONTENT

Empowering communities

Rocky Mountain Health Plans (RMHP), part of the UnitedHealthcare family, has pledged its commitment to uplift these communities through substantial investments in organizations addressing the distinct needs of our communities.

Gross margin, the company said, declined due to a variety of factors, including higher material costs, scrap costs, higher reserve for obsolescence and the mix of products sold.

Shares of the company rose 23 percent Friday, trading at 90 cents by mid-afternoon, though the stock is lightly traded.

Boulder-based Encision designs and manufactures instruments that prevent stray electrosurgical burns in minimally invasive surgery.