WEST BERLIN, N.J.--(BUSINESS WIRE)--EP MedSystems, Inc. (NASDAQ: EPMD), today announced financial results for the three months ended March 31, 2007.
Revenue for the first quarter of 2007 was $3,544,000 a decrease of $534,000 or 13% from the $4,078,000 reported in the three months ended March 31, 2006. In the first quarter of 2006, the Company had approximately $705,000 of nonrecurring sales to our Japanese distributor. Gross margin in the first quarter was 67% as compared to 61% for the same period in 2006, primarily due to higher average selling prices.
