For the fourth quarter of fiscal 2007, the Company reported net revenue of $7,474,120, an 3.7% increase from the $7,207,780, reported in the prior year period. This growth was offset by a decrease in the Company's Drew business unit.
Product revenue increased approximately 11.5% to $7,414,831 for the three- month period ended June 30, 2007, compared with $6,648,232 for the same period last fiscal year. For the fourth quarter of fiscal 2007, the Company reported a net loss of ($1,172,639), or ($0.18) per diluted share, compared with a net loss of ($1,142,261), or ($0.19) per diluted share, in the fourth quarter of fiscal 2006
"I am pleased to be report another successful year for Escalon Medical. Overall, our Sonomed business had an excellent fiscal 2007 driven by increased sales of the new VuMax high frequency systems and the EZ AB scan ultrasound systems. Additionally, we are pleased that EMI's expanding product offering has seen significant market acceptance during the year, which has driven an increase in digital imaging system sales," said Richard J. DePiano, Chairman and Chief Executive Officer.
"Despite the sales decline within our Vascular business unit due to the
termination of several distributor relationships during fiscal 2005 and
2006, the unit's profitability has increased due to efforts to replace the
impacted territories with direct sales. Moving ahead, we look forward to
capitalizing on recent Vascular R&D initiatives and bringing new visual
|SOURCE Escalon Medical Corp.|
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