Navigation Links
Encision Reports First Quarter Fiscal Year 2015 Results

BOULDER, Colo., July 29, 2014 /PRNewswire/ -- Encision Inc. (OTCQB:ECIA), a medical device company owning patented surgical technology that prevents dangerous stray electrosurgical burns in minimally invasive surgery, today announced financial results for its fiscal 2015 first quarter ended June 30, 2014.

The Company posted quarterly net revenue of $2.476 million for a quarterly net loss of $202 thousand, or $(0.02) per share. These results compare to net revenue of $2.682 million for a net loss of $311 thousand, or $(0.04) per share, in the year-ago quarter. Gross margin on net revenue was 49.4 percent in the fiscal 2015 first quarter and 54.4 percent in the fiscal 2014 first quarter. Gross margin on net revenue was lower in the fiscal 2015 first quarter as a result of scrap costs and higher unit overhead costs on lower sales volume. The medical device excise tax is included in other expense.

"We are disappointed with our 8% decrease in net revenue for the first quarter compared to last year's first quarter," said Greg Trudel, President and CEO. "We have realigned our sales structure and increased regional responsibilities among our team to provide greater customer support and drive results in the U.S. market."

"Our marketing emphasis and expanded sales channel are making great strides in creating awareness of the risks of stray energy and the new levels of safety that AEM® Technology brings to advanced energy used in laparoscopic surgery. Coupling this market momentum with the impending launch of our new AEM EndoShield™ Burn Protection System will provide our customers with new levels of clinical and economic value and drive technology adoption."

Encision Inc. designs and markets a portfolio of high performance surgical instrumentation that delivers advances in patient safety with AEM technology, surgical performance, and value to hospitals across a broad range of minimally invasive surgical procedures. Based in Boulder, CO, the company pioneered the development and deployment of Active Electrode Monitoring, AEM technology, to eliminate dangerous stray energy burns during minimally invasive procedures.

In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to increase net sales through the Company's distribution channels, its ability to compete successfully against other manufacturers of surgical instruments, insufficient quantity of new account conversions, insufficient cash to fund operations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission. Readers are encouraged to review the risk factors and other disclosures appearing in the Company's Annual Report on Form 10-K for the year ended March 31, 2014 and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise.

CONTACT: Mala Ray, Encision Inc., 303-444-2600,

 Encision Inc.Condensed Balance Sheets(Amounts in thousands)(Unaudited)June 30, 2014March 31, 2014ASSETSCash and cash equivalents$ 1,147$
Accounts receivable, net937863Inventories, net2,1612,224Prepaid expenses24565Total current assets4,4904,842Equipment, net1,0241,106Patents, net258249Other assets1814Total assets$ 5,790$ 6,211LIABILITIES AND SHAREHOLDERS' EQUITYAccounts payable471666Accrued compensation258265Other accrued liabilities401409Lease and deferred rent payable – short term9597Total current liabilities1,2251,437Lease and deferred rent payable – long term165186Total liabilities1,3901,632Common stock and additional paid-in capital23,56023,545Accumulated (deficit)(19,160)(18,957)Total shareholders' equity4,4004,588Total liabilities and shareholders' equity$ 5,790$  6,211 Encision Inc.Condensed Statements of Operations(Amounts in thousands, except per share information)(Unaudited)Three Months EndedJune 30, 2014June 30, 2013Net revenue:$2,476$2,682Cost of revenue:1,2541,224Gross profit1,2221,458Operating expenses:Sales and marketing683951General and administrative370353Research and development315388Total operating expenses1,3681,692Operating loss(146)(234)Interest and other expense, net(56)(77)Loss before provision for income taxes(202)(311)Provision for income taxes––––Net loss$(202)$ (311)Net loss per share—basic and diluted$ (0.02)$ (0.04)Basic and diluted weighted average number of shares10,6738,210Note: The three months ended June 30, 2013 was restated to include an additional $70 thousand in cost of revenue. 

SOURCE Encision Inc.
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Encision Reports First Quarter of Fiscal Year 2013 Results
2. Encision Reports Second Quarter of Fiscal Year 2013 Results
3. Encision Reports 10% Product Revenue Increase in Third Quarter of Fiscal Year 2013 Results
4. Encision Inc. and Virtual Ports Ltd. Announce Exclusive Distribution Agreement for Laparoscopic Surgery Devices
5. Encision Reports Fourth Quarter and Fiscal Year 2013 Results
6. Encision to Release First Quarter 2013 Results on July 31, 2013
7. Encision Reports First Quarter Fiscal Year 2014 Results
8. Encision Names Patrick Pace, M.D. Chairman of the Board
9. From Encision Inc.: New Medicare Penalties to Include Laparoscopic Complications
10. Encision Announces Death of Chief Executive Officer Fred F. Perner
11. Encision Reports Second Quarter Fiscal Year 2014 Results
Post Your Comments:
(Date:11/24/2015)... , Nov. 24, 2015  Natera, Inc. ... non-invasive genetic testing and the analysis of ... will present at the 27 th  Annual ... 2, 2015 at 1:00 p.m. ET.  Matthew Rabinowitz, Ph.D., CEO ... results, business activities and financial outlook. ...
(Date:11/24/2015)... New York , 24. November 2015 ... des Avery Breathing Pacemaker Systems, ist erfreut, ... als Clinical Consultant bekannt geben zu können. ...   --> Foto ... Stockholm (Schweden). Von 1984-1986 war ...
(Date:11/24/2015)... , Nov. 24, 2015   HeartWare International, ... of less-invasive, miniaturized circulatory support technologies that are revolutionizing ... President and Chief Executive Officer Doug Godshall ... th Annual Healthcare Conference on December 1, 2015 ... December 1-2 in New York . ...
Breaking Medicine Technology:
(Date:11/25/2015)... ... November 25, 2015 , ... In an ongoing Clinical Study conducted by ... Chicago, IL, UV Angel is evaluating the efficacy of its product and its disinfection ... (totaling 30 beds) from May 2014 through October 2015 at a 360-bed, acute-care, academic ...
(Date:11/25/2015)... ... November 25, 2015 , ... “While riding the bus, I saw a passenger ... thought there had to be a convenient and comfortable way to protect them from ... disabled individuals to safely travel during cold or inclement weather. In doing so, it ...
(Date:11/25/2015)... ... , ... Today, Mothers Against Drunk Driving (MADD) learned that the ... the first time since 2011. In 2014, there were 9,967 fatalities involving an alcohol ... National Highway Traffic Safety Administration (NHTSA), 32,675 people were killed in traffic crashes in ...
(Date:11/25/2015)... ... 25, 2015 , ... Castlewood Treatment Center for Eating Disorders, ... as a result of the $20,000 raised at the center’s recent golf ... Club in Eureka, will help individuals who otherwise might not seek treatment for ...
(Date:11/25/2015)... ... November 25, 2015 , ... In honor of Pulmonary Hypertension ... and groups responsible for advancing care for pulmonary hypertension (PH) patients and helping ... public, will receive special recognition throughout 2016 as part of PHA’s 25th anniversary ...
Breaking Medicine News(10 mins):