November 5, 2007
New distributor drives PLC loss
By Matthew L. Brown
Franklin-based PLC Systems Inc. said its $499,000 third quarter net loss was the result of its new U.S. distributor not knowing how to market PLC's products.
PLC's net loss was up from the $80,000 loss it reported for the same quarter a year ago. The company reported third quarter revenue of $1.3 million, down from $1.6 million from the third quarter of 2006.
In March PLC replaced its U.S. distributor Edwards Lifesciences Corp. with Novadaq Technologies Inc. PLC said it expected "at least one or two transitional quarters where Novadaq would need to gain experience as to how to best market" the company's heart laser and other cardiac and vascular surgery-related technology.
The company said Novadaq is hiring experienced salespeople and reorganizing the way it sells PLC's products. PLC said it expects increased sales volume "in ensuing quarters."
PLC's net loss was up from the $80,000 loss it reported for the same quarter a year ago. The company reported third quarter revenue of $1.3 million, down from $1.6 million from the third quarter of 2006.
In March PLC replaced its U.S. distributor Edwards Lifesciences Corp. with Novadaq Technologies Inc. PLC said it expected "at least one or two transitional quarters where Novadaq would need to gain experience as to how to best market" the company's heart laser and other cardiac and vascular surgery-related technology.
The company said Novadaq is hiring experienced salespeople and reorganizing the way it sells PLC's products. PLC said it expects increased sales volume "in ensuing quarters."
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