DENVER, Nov. 12 /PRNewswire-FirstCall/ -- Corgenix Medical Corporation (OTC Bulletin Board: CONX), a worldwide developer and marketer of diagnostic test kits, today reported sales of $2,044,967 for the first fiscal quarter ended September 30, 2009, compared with $2,001,896 for the quarter ended September 30, 2008, an increase of 2.2%.
The first quarter of fiscal 2010 produced operating income of $83,803 compared with an operating loss of $94,133 for the first quarter of fiscal 2009. The net loss for the quarter significantly improved to $6,752 or less than $0.01 per share, compared to a net loss of $340,659, or $0.01 per share, in the year earlier quarter. The primary causes of the reduced net loss for the current quarter were a $43,071 increase in sales, a $168,908 reduction in operating expenses, and a $183,915 reduction in interest expense in the current quarter versus the same quarter in the prior fiscal year.
Douglass Simpson, Corgenix CEO and President, stated, "We are extremely pleased with the performance this quarter. We showed an increase in sales over the same period in the prior year, and the previously implemented operating expense reduction plan in combination with the significantly reduced interest charges resulting from the recent debt restructuring brought us almost to the breakeven point."
Mr. Simpson added, "Our management team is continuing to focus on revenue growth while tightly controlling expenses to get us over the breakeven point and into sustained profitability."
First Quarter Fiscal 2010 Conference Call Details
Corgenix invites all those interested in hearing management's discussion of fiscal year results to join a shareholders conference call on Thursday, November 12, 2009, at 4:00 PM EST (2:00 PM MST). Interested parties can join the call by dialing (800) 894-5910. International participants may access the call by dialing +1 785 424 1052. The conference code is "CO
|SOURCE Corgenix Medical Corporation|
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