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21 July, 2017 20:49 IST
Dextera Surgical third-quarter loss widens on a YOY basis
Source: IRIS | 09 Jul, 2017, 06.20PM

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Dextera Surgical Inc (DXTR) saw its loss widen to $4.48 million, or $0.50 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.03 million, or $0.34 a share.      

Revenue during the quarter plunged 41.25 percent to $1.11 million from $1.89 million in the previous year period. Gross margin for the quarter stood at negative 18.14 percent as compared to a positive 51.70 percent for the previous year period.

Operating loss for the quarter was $4.34 million, compared with an operating loss of $2.92 million in the previous year period.

“Product sales for the third quarter were approximately $1 million, favorably impacted by the initiation of sales in Spain as well as an uptick in our cardiac products,” said Julian Nikolchev, president and Chief executive officer of Dextera Surgical Inc. “Looking ahead, we see increasing demand for the MicroCutter in both Europe and the United States.”

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