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:5/25/2015)... Garden City, NY (PRWEB) May 26, 2015 ... honors Lisa Ferrara, Ph.D., as a ... Circle. She is recognized with this prestigious distinction for ... networking organization exclusively for professional women, boasting more than ... "I'm pleased to welcome Lisa into this exceptional group ...
(Date:5/25/2015)... (PRWEB) May 25, 2015 According to ... ), market growth in hip external fixation market is ... aging U.S. population and advancements in infection prevention technologies. ... These fractures are currently accounting for the largest total ... associated with falls and accidents. As a result, the ...
(Date:5/25/2015)... 25, 2015 Join Fiona's Soccer Camp at ... instructional clinic. Irish National Player, Fiona O'Sullivan will be ... a taste of her coaching style. Fiona has three camps ... in Novato are at Lynwood Elmentary School (June 15-19) and ... School - June 6th, 2015 - 1:00-3:00pm. Bring a Soccer ...
(Date:5/24/2015)... 25, 2015 Pacific Prime has announced that they ... looking at the cost of individual international health insurance. Titled: ... looks at the cost of health insurance in six top expat ... Hong Kong , Singapore , ... UAE , the UK , Article 2 ...
(Date:5/24/2015)... (PRWEB) May 24, 2015 Scientists with ... paper on air quality compliance issues that may have ... workers. Surviving Mesothelioma has just posted an article on ... , The group found airborne asbestos levels well ... collected between 1984 and 2011. , “Asbestos compliance sampling ...
Breaking Medicine News(10 mins):Health News:National Association of Professional Women Inducts Lisa Ferrara, Ph.D., CEO of OrthoKinetic Technologies, Into its VIP Professional Woman of the Year Circle 2Health News:DePuy Synthes and Stryker Lead Orthopedic External Fixation Trauma Device Market Due to Increased Hip Fractures in the U.S. 2Health News:DePuy Synthes and Stryker Lead Orthopedic External Fixation Trauma Device Market Due to Increased Hip Fractures in the U.S. 3Health News:US Sports Camps and Nike Soccer Camps Offer Complimentary Instructional Clinic with Fiona's Soccer Camp 2Health News:Pacific Prime Releases 2nd Article of Cost of Health Insurance Report 2Health News:New Analysis Finds Too Many Employers Ignored OSHA Asbestos Guidelines, According to Surviving Mesothelioma 2
... Campaign will explain serious threat of re-emerging diseases, AAP ... A new educational campaign to reinforce the importance of ... Week, April 24 to May 1. , The program, ... without vaccinations, infants and children are at risk for ...
... ... prepare to wave goodbye to winter weight. , ... (PRWEB) April 27, 2010 -- World famous diet expert Tony Ferguson is collaborating ... of healthy eating solutions to the High Street., , ,Overindulgence at Christmas, cold weather comfort eating, ...
... ... to create and deploy their own custom branded mobile application to iPhone, iPad, and Android ... ... announced the debut of its platform that allows businesses to build and deploy ...
... ... SysML Applied™" workshops will meet the needs of clients that are demanding increased ... are available immediately in a tool-independent edition as well as tool-customized editions for ... ...
... participate in randomized clinical trials hoping to benefit from ... the same condition. However, rules and regulations are ... are limited and risks may be much less than ... is no question that research participants need protection," write ...
... Tiny, melanin-covered nanoparticles may protect bone marrow from the ... Albert Einstein College of Medicine of Yeshiva University who ... particles into human patients may hold promise in the ... of the International Journal of Radiation Oncology, Biology ...
Cached Medicine News:Health News:Educational Program Urges Parents to Immunize Kids 2Health News:Healthy Diet From Down Under To Help Brits Shape Up For Summer 2Health News:Healthy Diet From Down Under To Help Brits Shape Up For Summer 3Health News:Healthy Diet From Down Under To Help Brits Shape Up For Summer 4Health News:Snowflake Mobile™ Launches Platform for Creating and Deploying Mobile Apps 2Health News:PivotPoint Technology Launches Advanced SysML Training Services 2Health News:PivotPoint Technology Launches Advanced SysML Training Services 3Health News:Novel nanoparticles prevent radiation damage 2Health News:Novel nanoparticles prevent radiation damage 3Health News:Novel nanoparticles prevent radiation damage 4
(Date:5/22/2015)... May 22, 2015  Amgen (NASDAQ: ... commenced termination of its participation in the ... (LON:AZN, STO:AZN and NYSE: AZN ).  ... development for patients with moderate-to-severe plaque psoriasis, ... was based on events of suicidal ideation ...
(Date:5/22/2015)... May 22, 2015 The Assistance Fund announces ... program provides financial assistance for copay to individuals diagnosed ... announce the addition of the Melanoma Copay Assistance Program ... McGreevy , executive director. "With each additional program we ... a world where no one is denied access to ...
(Date:5/22/2015)... 2015  The U.S. Food and Drug Administration,s ... first biosimilar product approved in the ... in the contract manufacturing organization (CMO) industry, according ... geared to the production of small-molecular drugs and ... The healthcare market research publisher,s report, Biopharmaceutical ...
Breaking Medicine Technology:Amgen to terminate participation in co-development and commercialization of brodalumab 2Amgen to terminate participation in co-development and commercialization of brodalumab 3Amgen to terminate participation in co-development and commercialization of brodalumab 4Amgen to terminate participation in co-development and commercialization of brodalumab 5The Assistance Fund Adds Melanoma Assistance Program 2Kalorama: First FDA-Approved Biosimilar Brings Hope for CMO Growth 2Kalorama: First FDA-Approved Biosimilar Brings Hope for CMO Growth 3Kalorama: First FDA-Approved Biosimilar Brings Hope for CMO Growth 4
... disc test for detecting and grading ... minutes for quantitative estimation of saturation ... sensitive to and specific for differences ... Combined with Ishiharas pseudo-isochromatic plates, discriminates ...
Gas powered, single use, reloadable, laparoscopic 15 mm linear cutting stapler for resection, transection and anastomosis with titanium staples....
12 mm single use, reloadable laparoscopic linear stapler with titanium staples....
Single Use Loading Units (SULU's) with Titanium Staples for use with MULTIFIRE ENDO GIA™ 30 12 mm (Single Use Staplers with Titanium Staples)....
Medicine Products: