Calmare Therapeutics Incorporated announced consolidated earnings results for the fourth quarter and full year ended December 31, 2014. Revenue from the sale and shipment of the Calmare pain therapy devices (Devices) for the quarter ended December 31, 2014 decreased 52% or $119,000 to $108,000 as compared with $227,000 for the quarter ended December 31, 2013. This is largely attributable to the cyclicality and historically sales slow-down the company has witnessed over the last four years with respect to Device sales and its related consumables in the fourth quarter. Net loss for the quarter ended December 31, 2014 increased to $645,000 or $0.03 per basic and diluted share as compared with a net loss of $611,000 or $0.03 per basic and diluted share for the quarter ended December 31, 2013.

For the year, the company reported operating loss of $2,229,783 compared to $2,520,739 a year ago. Loss before income taxes was $3,410,899 compared to $2,672,154 a year ago. Net loss was $3,410,899 compared to $2,672,154 a year ago. Basic and diluted loss per share was $0.15 compared to $0.16 a year ago. Net cash used in operating activities was $1,061,683 compared to $1,566,413 a year ago. Purchases of property and equipment were $45,581. Revenue from the sale and shipment of the Calmare pain therapy devices (Devices) for the year ended December 31, 2014 increased 60% or $392,000 to $1,045,000 as compared with $653,000 for the year-ended December 31, 2013.