• Loading stock data...
PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » Medical » Opsens Reports Q3 2017 Results – Another Record Quarter with Revenues Up 130% to $4.9 Million

Opsens Reports Q3 2017 Results – Another Record Quarter with Revenues Up 130% to $4.9 Million

Randy Whitney by Randy Whitney
April 26, 2019
in Medical
8 min read
27
0
Opsens Reports Q3 2017 Results – Another Record Quarter with Revenues Up 130% to $4.9 Million

QUEBEC CITY, June 29, 2017, OPSSF, OPS, /CNW Telbec/ – Opsens Inc. (“Opsens” or the “Company”) (TSX: OPS) (OTCQX: OPSSF) today reported its results for the third quarter ended May 31, 2017.

HIGHLIGHTS

  • Growth in sales of products to measure Fractional Flow Reserve (“FFR”) in Q3 2017 to $3,710,000 compared with $982,000 in Q3 2016, an increase of $2,728,000 or 278%;
  • Growth in FFR revenues in the first nine months of 2017 to $9,570,000 compared with $3,127,000 for the corresponding period in 2016, an increase of $6,443,000 or 206%;
  • Growth in consolidated revenues for Q3 2017 to $4,892,000 compared with $2,125,000 for Q3 2016, an increase of $2,767,000or 130%;
  • Growth in consolidated gross margin for Q3 2017 at $ 2,050,000 compared with $ 514,000 for Q3 2016;
  • Appointment of Robin Villeneuve as Chief Financial Officer.

IMPLEMENTATION OF THE GROWTH STRATEGY

Opsens’ commercial networks continue to demonstrate success from quarter to quarter. FFR revenues for the first nine months of 2017 are significantly higher than FFR revenues recorded for the entire previous year. “We are confident that the OptoWire’s distinctive features, which are widely appreciated by key opinion leaders in interventional cardiology, will allow us to capitalize on the fast-growing FFR market,” said Louis Laflamme, Opsens’ President and Chief Executive Officer.

“The continued improvement in our production processes over the past months has allowed us to increase our competitiveness and our ability to meet the growing demand for our products. Opsens’ cash position now stands at approximately $14 million, giving the Company the flexibility to execute its commercialization plan worldwide, including the acceleration of marketing activities related to our FFR business,” added Laflamme.

FINANCIAL RESULTS FOR THE THREE-MONTH PERIOD ENDED MAY 31, 2017 – SALES GROWTH

In the third quarter, consolidated sales increased by 130%, supported by FFR sales growth. In addition to the increase in FFR sales, other medical income also increased 354% to $889,000 from $196,000 offsetting lower industrial revenues of $654,000.

Gross margin increased to $2,050,000 for the quarter ended May 31, 2017 compared with $514,000 for the same period last year.

Net loss decreased to $1,842,000 for the three-month period ended May 31, 2017 compared with a net loss of $3,076,000 for the corresponding period last year. The increase in sales and gross margin were the main contributors to the decrease in the loss.

 

(In thousands of Canadian dollars, except for information per share)

Three-Month
Period Ended

May 31, 2017

Three-Month
Period Ended

May 31, 2016

Nine-Month
Period Ended

May 31, 2017

Nine-Month
Period Ended

May 31, 2016

$

$

$

$

Revenues

Sales

4,800

2,033

12,164

6,301

Licensing

92

92

1,282

275

4,892

2,125

13 446

6,576

Cost of Sales

2,842

1,611

7,951

4,813

Gross margin

2,050

514

5,495

1,763

Administration expenses

1,258

1,304

3,007

2,851

Sales and marketing expenses

1,938

1,178

5,270

2,427

R&D expenses

844

733

2,395

2,042

Financial expenses (revenues)

4

(41)

127

55

Change in fair value of embedded derivative

(152)

416

80

645

3,892

3,590

10,879

8,020

Net loss and comprehensive loss

(1,842)

(3,076)

(5,384)

(6,257)

Net loss per share – Basic

(0.02)

(0.05)

(0.07)

(0.10)

Net loss per share – Diluted

(0.02)

(0.05)

(0.07)

(0.10)

 

About Opsens Inc. (www.opsens.com or www.opsensmedical.com)

Opsens focuses mainly on the measure of FFR in interventional cardiology. Opsens offers an advanced optical-based pressure guidewire (OptoWire) that aims at improving the clinical outcome of patients with coronary artery disease. Opsens is also involved in industrial activities, offering solutions for critical applications, such as the monitoring of oil wells and other demanding industrial applications.

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Opsens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE OPSENS INC.

Tags: MedicalOPSOpsens IncOPSSFRecord QuarterRevenues
Randy Whitney

Randy Whitney

Randy is a marketing specialist with experience creating content for sports and real estate in New York City. He has written for Major League Baseball and Cut4 as well as contributed creatively to the growth and development of startups around the country.

Related Posts

Regeneron buy back shares from Sanofi
Medical

Regeneron to buy back $5 billion shares from Sanofi

May 25, 2020
137
A report reveals that China is deliberately faking the number of COVID-19 cases and deaths.
General

China is underreporting COVID-19 cases, U.S. intelligence community says

April 1, 2020
152
Around the world, the total number of confirmed coronavirus infection went beyond 600,000, with 28,964 fatalities as of the latest report.
Medical

17% of all confirmed COVID-19 cases in the world comes from the US

March 28, 2020
139
President Donald Trump signed a $2 trillion coronavirus relief bill on Friday
General

Trump signs $2 trillion coronavirus relief

March 28, 2020
121
General Motors and Ventec Life Systems are partnering to convert the GM Kokomo, Indiana ERC building for the production of Ventec ventilators in response to the COVID-19 pandemic.
General

GM announces the start of production of critical-care ventilators shortly after Trump’s tweets against CEO

March 27, 2020
135
Rep. Thomas Massie, R-Ky., tried to force a full yes or no vote on the measure, which could have delayed its passage by hours.
Finance

$2 trillion coronavirus stimulus package passed by the House amid efforts to delay voting by Massie

March 27, 2020
123
Currently Playing

Subscribe To Our Newsletter

Ad

PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2020 PublicWire.com

Navigate Site

  • About
  • #96576 (no title)
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • #370 (no title)

© Copyright 2020 PublicWire.com

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Public Wire Logo

Hello please subscribe to our newsletter to get up to date news weekly!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.