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Encision, Inc. (ECIA) Reports Second Quarter of Fiscal Year 2013 Results


10/30/2012 9:40:40 AM

BOULDER, Colo., Oct. 30, 2012 /PRNewswire/ -- Encision Inc. (ECIA:PK), a medical device company owning patented surgical technology that is emerging as a standard of care in minimally-invasive surgery, today announced financial results for its fiscal 2013 second quarter ended September 30, 2012.

The Company posted quarterly product revenue of $2.806 million and quarterly service revenue of $68 thousand for a quarterly net loss of $265 thousand, or $(0.03) per share. These results compare to product revenue of $2.830 million and service revenue of $437 thousand for a net loss of $469 thousand, or $(0.07) per share, in the year-ago quarter. Gross margin was 56 percent compared to 48 percent in the year-ago quarter. In the year-ago quarter, our margin was lower due to a one-time charge of $430 thousand for a voluntary recall of a certain electrode product. Also, the gross profit margin increase from the second quarter of fiscal year 2012 was due, partially, to an increase in gross margin of our disposable scissor inserts.

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