Encision losses slow after summer layoffs

BOULDER  — Medical device maker Encision Inc. (PK:ECIA) reduced their revenue loss rate in their latest quarter, but its overall revenues in its current fiscal year are down 34 percent.

The Boulder surgical instrument maker posted net revenues of $1.92 million for the quarter and a $30,000 profit, compared to $2.2 million in sales and $12,000 in profit in the same quarter last year, according to filings with the U.S. Securities and Exchange Commission Wednesday.

CEO Greg Trudel said in the filings that higher costs for steel and other raw materials driven by the U.S.-China trade war cut deeply into company finances. Those revenue drops prompted Encision to lay off four employees in August, bringing headcount there to 27.

Encision stock held steady at 35 cents per share Wednesday. The stock trades as a pink-sheet stock off any major markets.

BOULDER  — Medical device maker Encision Inc. (PK:ECIA) reduced their revenue loss rate in their latest quarter, but its overall revenues in its current fiscal year are down 34 percent.

The Boulder surgical instrument maker posted net revenues of $1.92 million for the quarter and a $30,000 profit, compared to $2.2 million in sales and $12,000 in profit in the same quarter last year, according to filings with the U.S. Securities and Exchange Commission Wednesday.

CEO Greg Trudel said in the filings that higher costs for steel and other raw materials driven by the U.S.-China trade war cut deeply into company finances. Those revenue drops prompted Encision to lay off four employees in August, bringing headcount there to 27.

Encision stock held steady at 35 cents per share Wednesday. The stock trades as a pink-sheet stock off any major markets.