Safety Vendor Reports 2Q Financials
Revenue rose and profits improved during the second quarter for Patient Safety Technologies Inc., which sells the bar code-enabled SurgiCount Safety-Sponge System to keep track of towels and sponges used in operations.
Revenue rose and profits improved during the second quarter for Patient Safety Technologies Inc., which sells the bar code-enabled SurgiCount Safety-Sponge System to keep track of towels and sponges used in operations.
The Temecula, Calif.-based vendor had second quarter net income of $50,000, compared with a $4 million loss during the same period a year ago. Quarterly revenue, which included a $2.33 million stocking order from a distributor, totaled $3.77 million, up 266 percent. Absent the stocking order, revenue increased 40 percent.
For the first six months of 2010, the company saw net income improve to $343,422, compared with a $7.5 million loss during the first half of 2009. Half-year revenue, including the stocking order, increased 213 percent to $6.13 million, and up 94 percent without the order. More information is available at surgicountmedical.com.
--Joseph Goedert
The Temecula, Calif.-based vendor had second quarter net income of $50,000, compared with a $4 million loss during the same period a year ago. Quarterly revenue, which included a $2.33 million stocking order from a distributor, totaled $3.77 million, up 266 percent. Absent the stocking order, revenue increased 40 percent.
For the first six months of 2010, the company saw net income improve to $343,422, compared with a $7.5 million loss during the first half of 2009. Half-year revenue, including the stocking order, increased 213 percent to $6.13 million, and up 94 percent without the order. More information is available at surgicountmedical.com.
--Joseph Goedert
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