March 5, 2008
Franklin Co. Transitions To Loss
After a profitable 2006, Franklin cardiac device company PLC Systems lost $819,000 in the fourth quarter and $2.4 million in 2007 as a whole.
The company earned $36,000 in the fourth quarter of 2006 and $1.3 million for that year.
The company's fourth quarter revenues also declined from $1.7 million in 2006 to $1.2 million in 2007. Full-year revenue declined from $7.1 million to $6 million.
The company called 2007 a "year of transition" for its core business, a technology to alleviate symptoms of severe angina. PLC changed its distribution partner for the technology from Edwards Lifesciences to Novadaq Technologies Inc., and it said the transition is taking time.
PLC said it has been making progress in the development of new products.
The company earned $36,000 in the fourth quarter of 2006 and $1.3 million for that year.
The company's fourth quarter revenues also declined from $1.7 million in 2006 to $1.2 million in 2007. Full-year revenue declined from $7.1 million to $6 million.
The company called 2007 a "year of transition" for its core business, a technology to alleviate symptoms of severe angina. PLC changed its distribution partner for the technology from Edwards Lifesciences to Novadaq Technologies Inc., and it said the transition is taking time.
PLC said it has been making progress in the development of new products.
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