--Gross profit for the March 31, 2013 period increased 49% to $840,000, compared to $564,000 for the March 31, 2012 period. The increase was due to higher revenue and gross margins, which increased from 50% to 55% due to a higher average selling price and lower cost per unit sold.
--Total operating expenses for the March 31, 2013 period were $4.1 million, compared to $3.7 million in the March 31, 2012 period, an increase of $400,000. With enrollment for the MASTER I trial completed, as well as a timing gap between the pre-clinical phase and the start of the recruitment phase of the FDA trial, R&D expenses for the March 31, 2013 period decreased by approximately $500,000, or 33%, compared to the March 31, 2012 period. This decrease was offset by an 81% increase in sales and marketing expenses as we expanded our sales activities worldwide, and a 23% increase in G&A expenses due mainly to an increase in share-based compensation and salary expenses.
--The loss from operations for the March 31, 2013 period was $3.2 million, compared to $3.1 million for the March 31, 2012 period.
--The net loss for the period ended March 31, 2013 totaled $4.9 million, or $0.27 per basic and diluted share, compared to a net loss of $3.1 million, or $0.18 per basic and diluted share in the period ended March 31, 2012. The increased net loss for the quarter just ended resulted primarily from a roughly $400,000 increase in operating expenses, and $1.7 million in financial expenses related to debenture amortization costs and anti-dilution rights expenses. The weighted average number of shares of common stock used in computing net loss per share (basic and diluted) was 18.2 million for the quarter ended March 31, 2013, and 17 million for the quarter ended March 31, 2012.
--At March 31, 2013, cash and cash equivalents was appro
|SOURCE InspireMD, Inc.|
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