Corgenix posts record annual revenue

BROOMFIELD – Diagnostic test-kit company Corgenix Medical Corp. on Monday reported a record $10.2 million in revenue for its fiscal year 2013 that ended June 30.

Revenue for Broomfield-based Corgenix (OTC BB: CONX.OB) was 9.7 percent higher than the $9.3 million the company reported for fiscal year 2012. For investors, earnings translated to 1 cent per share, compared to a loss of 1 cent per share for fiscal year 2012.

Income was $296,385 for the year, compared with a loss of $486,208 reported for fiscal year 2012.

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The company continues to see strong demand for its services and products worldwide, said Douglass Simpson, president and chief executive of Corgenix. Contract manufacturing is contributing greatly to company growth, Simpson said in a press statement.

Corgenix plans to expand its presence in Asian markets in the coming year, after establishing a foothold in China in fiscal year 2013, Simpson said.

Corgenix sells diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders. It has more than 50 diagnostic products for sale around the globe.

In May, Corgenix said it would partner with pharmaceutical manufacturer Eli Lilly and Co. (NYSE: LLY) to develop diagnostic tests to measure the effectiveness of certain cancer drugs developed by Lilly. Financial terms of the agreement with Eli Lilly were not disclosed.