Encision grows profits after summer layoffs
BOULDER — Encision Inc. (PK: ECIA) turned a profit in the previous quarter, months after it laid off four employees over the summer.
The Boulder surgical equipment company posted a $70,000 profit after $2.04 million in revenue from October to December 2019, according to its quarterly earnings report Thursday morning. That beats the company’s $84,000 loss during the same period in 2018.
Encision laid off four employees in August, bringing its total there to 27. CEO Greg Trudel said at the time that the U.S.-China trade war raised prices for steel and other raw materials, cutting into the company’s finances.
SPONSORED CONTENT
Business Cares: March 2024
WomenGive, a program of United Way of Larimer County, was started in Larimer County in 2006 as an opportunity for women in our community to come together to help other women.
The company posted a $30,000 profit on $1.92 million in revenue in the third calendar quarter of 2019, which followed the layoffs and cost-cutting efforts.
Encision’s stock increased one cent in early trading Thursday to 49 cents per share on the over-the-counter markets.
BOULDER — Encision Inc. (PK: ECIA) turned a profit in the previous quarter, months after it laid off four employees over the summer.
The Boulder surgical equipment company posted a $70,000 profit after $2.04 million in revenue from October to December 2019, according to its quarterly earnings report Thursday morning. That beats the company’s $84,000 loss during the same period in 2018.
Encision laid off four employees in August, bringing its total there to 27. CEO Greg Trudel said at the time that the U.S.-China trade war raised prices for steel…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!