Medical-device company Encision records first profit in years

BOULDER — Encision Inc. (OTC: ECIA) reported net income of $336,000 for its fiscal year 2018, a turnaround from a loss of $729,000 the previous year. The 2018 profit came on revenues of $8.75 million, down from $8.87 million in fiscal year 2017.

Encision is a medical-device company that owns patented surgical technology that prevents dangerous stray electrosurgical burns in minimally invasive surgery.

“This past year has been a turning point for Encision,” Greg Trudel, President and CEO of Encision, said in a prepared statement. “We delivered new levels of operational excellence, launched new products and delivered black ink on the bottom line for the first time in recent history. Our focus going forward will be to grow the top line. To that effect, we have already strengthened our sales channel with direct sales representation to fill strategic gaps in the marketplace and to eliminate underperforming distribution relationships.”

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Encision also posted its fourth-quarter results, with a net loss of $18,000, an improvement from the same period the year prior, when it lost $115,000. The company’s net revenue for the fourth quarter was $2.04 million.