- 2007 Revenues increase 418% versus 2006
- Q4 2007 revenues increase 32% versus Q3 2007
VANCOUVER, March 6 /PRNewswire-FirstCall/ - CRH Medical Corporation (CRM:TSX-V) announced today that it recorded revenues of $3.25 million for the year ended December 31, 2007 compared to $0.6 million for the year ended December 31, 2006 an increase of 418%. The Company's net loss decreased to $3.5 million ($0.08) per share for the year ended December 31, 2007 compared to $5.0 million ($0.12) per share for the year ended 2006. Additionally, the Company announced that as of December 31, 2007 it had approximately $4.4 million in working capital.
Revenue for the three months ended December 31, 2007 increased 32% to $1,163,944 compared to $879,698 for the three months ended September 30, 2007.
Commenting on the 2007 results, Edward Wright, Chief Executive Officer stated, "2007 was a breakthrough year for our Company. We have proven our ability to create patient demand and significantly increase revenue as evidenced by 13,461 patent visits in 2007 compared to 1,699 during 2006. As a result, in 2008 we expect continued increases in revenue through growth of our existing Centers and opening a significant number of new Centers."
Edward Wright further stated, "We plan to aggressively expand in 2008 by opening at least 12 additional Centers, and to develop our 'Partnership Program.' This program provides physicians the ability to acquire our technology, treatment protocols, marketing and operational experience. We anticipate the Partnership Program will significantly contribute to the Company's revenue growth by increasing the number of physicians having access to our technology."
The Company's December 31, 2007 financial report will be available on or before March 31st at http://www.sedar.com
About CRH Medical Corporation:
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|SOURCE CRH Medical Corporation|
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