May 7, 2009
Trial Delay Helps PLC Bottom Line
By Matthew L. Brown
Franklin medical device company PLC Systems Inc. reported a narrower net loss and sizeable revenue gains for the first quarter.
The company said its net loss was $358,000 for the quarter compared to a loss of $762,000 for the same period a year ago. Over the same period revenue increased from $1.2 million to $1.6 million.
Reductions in spending on clinical trials of its RenalGuard technology resulted in lower operating expenses. The company has delayed the next phase of trials for RenalGuard, a fluid balancing device used during surgery.
Earlier this week, the company announced an agreement with a Spanish company that will distribute the RenalGuard system in Spain.
WBJ Web Partners
Most Recent
Most Recent
0 Comments