Navigation Links
Neovasc Inc. Reports Year 2008 Financial Results
Date:4/24/2009

ory held by the distributor less a 25% restocking fee. Under EIC-156 Accounting by a vendor for consideration given to a Customer, Neovasc is required to recognize the inventory repurchase as a reduction in revenue and the income statement impact of the termination was to reduce revenue by $516,601, decrease cost of goods sold by $308,203 and recognize interest income of $45,024 (for the interest due on accounts receivable from the distributor).

Inventory Write Down

During the last quarter of the year, Neovasc severed its direct sales force employees who sold the Company's Metricath products and terminated its distributor of Aegis products. As a result, the Company has limited sales channels through which to sell the Metricath and Aegis product lines. While management continues to look for new distributors to carry these products, there is no certainty, when, or if, they will be able to find a suitable partner. With no certain sales in 2009 from these products the Company incurred an inventory write down of $626,925.

Repayable Contribution Write Back

As noted above, the Metricath products do not currently have an established sales channel and Neovasc cannot predict whether or not it will be able to establish a suitable channel in the future or generate revenue from these products in 2009. As a result, the Company released $320,445 liability for the repayable contribution agreement repayable from royalties generated from future Metricath sales.

Revenues

Revenues increased 2% year over year from $1,517,873 for the year ended December 31, 2007 to $1,546,239 for the year ended December 31, 2008. Sales of catheter products for the year ended December 31, 2008 were $262,118 a marginal increase over sales of $258,017 in the comparable period in 2007, despite a heavy investment in a direct sales force and a substantial marketing effort. As described above, the direct sales force has been terminated a
'/>"/>

SOURCE Neovasc Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13

Related medicine news :

1. Neovasc Reports Development Progress, Streamlined Operations and Issuance of Options
2. Neovasc Inc. Reports Third Quarter Fiscal Year 2008 Financial Results
3. Neovasc Announces Agreement With LeMaitre Vascular for Exclusive Distribution Rights to its Biological Vascular Strips
4. Neovasc Receives CE Mark Approval for Peripatch(TM) Aegis Staple Line Reinforcement Product
5. Neovasc to Raise $2 Million in Non-Brokered Private Placement
6. New Study Reports High Injury Rates for Hotel Workers, Even Higher Rates for Women and Nonwhites
7. Haemacure Reports Third Quarter 2007 Results
8. First-Ever List of the 5,000 Fastest-Growing Businesses Reports Total Revenue of $194.5 Billion
9. Consumer Reports Analysis: Drugs for Nerve Pain, Fibromyalgia Effective, But Not Always Best
10. MDS Reports Third Quarter 2007 Results
11. Allied Healthcare Reports Strong Fourth Quarter, Flat Net Income for Fiscal 2007 vs. 2006
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/3/2015)... ... August 03, 2015 , ... ... Appeals ruled in favor of the firm’s client Rebecca Hamsher, deciding that in ... Center must reimburse benefits for Hamsher’s residential treatment for bulimia, depression and other ...
(Date:8/3/2015)... ... 03, 2015 , ... A recent survey by the ... Hispanics believe people can positively affect their diabetes, few look beyond diet changes ... diet changes was important. Far fewer participants mentioned the need for exercise (30%), ...
(Date:8/3/2015)... ... 2015 , ... Novatus, Inc. today launched the largest and ... as announced the date of its next major release. , Version 6.0 introduces ... as well as enhancements to the customer experience. Users now enjoy a ...
(Date:8/3/2015)... Pass, OR (PRWEB) , ... August 03, 2015 ... ... Northeast California’s Modoc National Forest, to Ahjumawi Lava Springs, California’s northernmost and among ... of California’s largest untapped ground water aquifers, whose main outflow is at Ahjumawi ...
(Date:8/3/2015)... ... ... Illinois Health & Science (IHS) has completed the purchase of IBA Molecular North ... NA’s cyclotron sites and research and development facilities. , “We are excited ... a large manufacturing hub in Noblesville, Indiana,” said Ken Smithmier, President and CEO of ...
Breaking Medicine News(10 mins):Health News:Kantor & Kantor Announces North Cypress Medical Center Must Reimburse Benefits for Mental Health Treatment 2Health News:Kantor & Kantor Announces North Cypress Medical Center Must Reimburse Benefits for Mental Health Treatment 3Health News:Hispanics More Likely to Struggle with Misinformation About Diabetes 2Health News:Hispanics More Likely to Struggle with Misinformation About Diabetes 3Health News:Hispanics More Likely to Struggle with Misinformation About Diabetes 4Health News:Novatus Unveils Milestone Software Release 2Health News:Medicine Lake Aquifer could ease California drought says fresh water advocate Sharon Kleyne – but is this necessary? 2Health News:Medicine Lake Aquifer could ease California drought says fresh water advocate Sharon Kleyne – but is this necessary? 3Health News:Medicine Lake Aquifer could ease California drought says fresh water advocate Sharon Kleyne – but is this necessary? 4Health News:Illinois Health & Science Expands Nuclear Medicine Footprint With Purchase of IBA Molecular North America, Inc. 2
... for signed parental consent and health,history forms, Give Kids ... youth population they will see on February 1 - ... agencies and such. PLEASE DO NOT INDICATE TO THE ... COLUMBUS, Ohio, Jan. 24 In conjunction with,the Ohio ...
... at Melbournes Howard Florey Institute have discovered that ... dementia in the fatal genetic disease, Huntington,s disease. ... possibilities for other devastating and difficult to treat ... a key component. , The Floreys Dr ...
... symposium on gastrointestinal cancers , , THURSDAY, Jan. 24 (HealthDay ... a biomarker that could detect colorectal cancer in its ... accurate way than existing blood tests. , The marker, ... early- and late-stage disease, the researchers added. , The ...
... 24 ZYTO Corp. (Pink Sheets:,ZYTC) has announced the ... and Kami Howard as C.F.O., The internal appointments ... according to Dr. Vaughn R. Cook, company founder, president ... and handled the,financial responsibilities., Howard joined ZYTO in ...
... The following is a,statement by Blue Shield of California CEO ... advocate for universal coverage, I,m disappointed that we,did not clear ... Senate must,not make perfection the enemy of the good. This ... be., We have waited too long to make health ...
... Calif., Jan. 23 InterMune, Inc.,(Nasdaq: ITMN ) ... of InterMune, will present at the 2008 Wachovia Healthcare,Conference ... EST., To access a live audio webcast of ... to the investor relations page of InterMune,s,corporate website at ...
Cached Medicine News:Health News:Ohio Dental Volunteers to Give Over $1.1M in Free Care and Improve Oral Health of 18,000 Children in Need Through 6th Annual Give Kids A Smile! Day Ohio 2Health News:Ohio Dental Volunteers to Give Over $1.1M in Free Care and Improve Oral Health of 18,000 Children in Need Through 6th Annual Give Kids A Smile! Day Ohio 3Health News:Mental and physical exercise delays dementia in fatal genetic disease 2Health News:New Colon Cancer Test Might Spot Trouble Earlier 2Health News:New Colon Cancer Test Might Spot Trouble Earlier 3Health News:ZYTO Corp. Appoints New Chief Operations Officer and New Chief Financial Officer 2Health News:InterMune to Present at the 2008 Wachovia Healthcare Conference 2
(Date:8/3/2015)... , August 3, 2015 ... by Persistence Market Research "Global Market Study on ... to Witness Highest Growth by 2022", the global physiotherapy ... Bn by the end of 2015 and is expected ... 2015 to 2022, to account for US$23.7 Bn by ...
(Date:8/3/2015)...  CytRx Corporation (NASDAQ: CYTR ), a biopharmaceutical ... financial results for the three months ended June 30, ... and upcoming milestones for its clinical development programs. ... productive for CytRx. Enrollment in our ongoing pivotal global ... sarcoma (STS) continues on track to be completed in ...
(Date:8/3/2015)... Aug. 3, 2015  Array BioPharma Inc. (NASDAQ: ... fourth quarter and full year of its fiscal ... Squarer, Chief Executive Officer of Array, noted, "Binimetinib and ... are on track for regulatory submissions in 2016. ... melanoma and BRAF-mutant colorectal cancer further validate the ...
Breaking Medicine Technology:Global Physiotherapy Equipment Market Will Reach US$ 23.7 Billion by 2022: Persistence Market Research 2Global Physiotherapy Equipment Market Will Reach US$ 23.7 Billion by 2022: Persistence Market Research 3Global Physiotherapy Equipment Market Will Reach US$ 23.7 Billion by 2022: Persistence Market Research 4CytRx Reports 2015 Second Quarter Financial Results 2CytRx Reports 2015 Second Quarter Financial Results 3CytRx Reports 2015 Second Quarter Financial Results 4CytRx Reports 2015 Second Quarter Financial Results 5CytRx Reports 2015 Second Quarter Financial Results 6CytRx Reports 2015 Second Quarter Financial Results 7CytRx Reports 2015 Second Quarter Financial Results 8CytRx Reports 2015 Second Quarter Financial Results 9CytRx Reports 2015 Second Quarter Financial Results 10CytRx Reports 2015 Second Quarter Financial Results 11CytRx Reports 2015 Second Quarter Financial Results 12CytRx Reports 2015 Second Quarter Financial Results 13CytRx Reports 2015 Second Quarter Financial Results 14Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 2Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 3Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 4Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 5Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 6Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 7Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 8Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 9Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 10Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 11Array BioPharma Reports Financial Results For The Fourth Quarter And Full Year Of Fiscal 2015 12
... , , , , MUMBAI, India, Dec. ... IN, NSE: SUNPHARMA, BSE: 524715) today announced that based on ... (Pink Sheets: TAROF) annual general meeting, Taro,s minority shareholders sent ... continuing control of Taro. Shareholders voted decisively against the ...
... , DETROIT, Dec. 30 For the twelfth consecutive year, ... Christ, is campaigning to save lives during New Year,s Eve ... New Millennium, Health Alliance Plan (HAP) and the Wayne County ... celebrate the New Year without gunfire. The hope is ...
Cached Medicine Technology:Taro Shareholders to Levitt and Directors: Quit the Board 2Taro Shareholders to Levitt and Directors: Quit the Board 3Rev. Nick Hood, III Asks Southeast Michiganders Not to Use Guns During New Year's Eve Celebrations 2
Aplicare's disposable 1-ounce pouches are designed for individual application and are ideal for reducing waste. They are used in nursing homes, home healthcare settings, blood banks, laboratories, em...
... 10% Povidone Iodine USP, 1% available Iodine, ... prep, Povidone Iodine Gel helps to minimize ... patient, thus reducing the chance of patient ... a one step gel for venipuncture site ...
... Gel is a viscous antimicrobial that contains ... for broad-spectrum germicidal action. As a preoperative ... minimize the pooling of prepping solutions under ... patient burns. Povidone Iodine Topical Gel is ...
... Povidone Iodine Prep Solution is appropriate ... paint, wet soak or spray); disinfecting ... antiseptic treatment of lacerations and abrasions. ... anti-infective agent in hospital and office ...
Medicine Products: