Quarterly losses up slightly for Encision

BOULDER — Encision Inc., a Boulder-based medical device manufacturer, reported quarterly net losses of $183,000, up from a loss of $18,000 in the same period last year.

Revenues in the company’s fourth quarter of fiscal year 2019, which ended March 31, were up slightly year-over-year, $2.09 million compared to $2.04 million.

For the full fiscal year, Encision reported a net loss of $236,000. In 2018, the company posted full fiscal year net income of $336,000.

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“We continue to open up new market opportunities.  During the quarter … our proprietary patient safety technology was recognized by the U.S. Department of Veterans Affairs and provides us with the opportunity to market our instruments and monitors into VA Medical Centers,” Encision CEO Gregory Trudel said in a prepared statement. “The VA is the largest medical system in the U.S. providing service to more than nine million veterans across more than 1,200 facilities.  

“Also, during the quarter, Encision was awarded a prestigious Vizient Innovative Technology Contract for monopolar surgical instruments and monitors,” he said. “This contract will enable us to expand the use of our technology and to provide savings opportunities into thousands of new hospital accounts.”