Surgical-device maker reports loss for fiscal year

BOULDER – Total revenue decreased year-over-year at Encision Inc. (ECIA: PK), a Boulder-based manufacturer of surgical devices, according to the company’s annual report, filed in late June.

Revenue for products and services combined totaled $10.5 million for the fiscal year ending March 31, compared with $11.7 million in Encision’s fiscal 2013.

For fiscal 2014, the company reported a net operating loss of $1.7 million, compared with a net loss of $615,673 the year before.

Part of the company’s losses can be attributed to a product impairment cost of $1.1 million in the fourth quarter related to the company’s decision to discontinue two products.  

The company also held more assets in fiscal 2014, with $6.2 million in total assets, compared with $5.9 million in 2013.The biggest jump came in the cash and cash equivalents, which increased from $126,224 in fiscal 2013 to $1.6 million in fiscal 2014.

Research and development expenses declined year-over-year, according to the annual report. In fiscal 2013, more than $1.7 million was spent for research and development, compared with $1.4 million in fiscal 2014.

Encision’s chief executive Greg Trudel was unavailable for comment Tuesday.


Molly Armbrister covers real estate, banking and health care for the Northern Colorado Business Report. She can be reached at 970-232-3139, marmbrister@ncbr.com or twitter.com/MArmbristerNCBR

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