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.
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