Encision revenue grows 7%

BOULDER — Medical device manufacturer Encision Inc. (PK: ECIA) experienced 7% revenue growth in the first quarter of its 2023 fiscal year, the company reported Tuesday. 

Encision increased its revenue year-over-year to $2.15 million from $2.01 million in the first quarter of its 2022 fiscal year. 

The company also brought in net earnings of $265,000, or 2 cents per share, compared with a loss of $7,000 a year ago. 

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“The first quarter presented significant challenges for Encision,” Encision chief executive Gregory Trudel said in a prepared statement. “During the first quarter of fiscal year 2023 and fiscal year 2022, COVID resurgences continued to impact procedure volumes. COVID has had, and will likely continue to have, an adverse impact on our procedure volumes. We continue to encounter supply-chain issues and work tirelessly to deliver a steady mix of products to our customers who depend on us.

“Encision continues to be positive as we navigate the ups and downs of the pandemic market and the new-normal supply-chain turmoil. We continuously look for opportunities to serve our customers with new products, to work smarter, and to drive increased efficiencies.”