Milestone Medical, Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2016
November 10, 2016 at 02:45 am IST
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Milestone Medical, Inc. reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported product sales, net of $3,186,596 against $2,459,958 for the same period of last year. Loss from operations was $1,568,183 against $835,357 for the same period of last year. Loss before provision for income taxes was $1,569,029 against $836,400 for the same period of last year. Net loss attributable to company was $1,701,250 or $0.05 per basic and diluted share against $1,569,202 or $0.07 per basic and diluted share for the same period of last year.
For the nine months, the company reported product sales, net of $8,973,726 against $6,996,921 for the same period of last year. Loss from operations was $4,683,933 against $2,320,189 for the same period of last year. Loss before provision for income taxes was $4,686,715 against $2,321,150 for the same period of last year. Net loss attributable to company was $4,207,670 or $0.16 per basic and diluted share against $4,061,525 or $0.19 per basic and diluted share for the same period of last year.
Milestone Medical, Inc. develops epidural and intra-articular drug delivery systems based on patented, painless, computer-controlled injection and drug delivery technology. Its CompuFlo Epidural System provides anesthesiologists and other health care providers with the ability to determine and document the pressure at the needle tip in real-time. Its CompuFlo Epidural's DPS Dynamic Pressure Sensing Technology (DPS) allows the CompuFlo Epidural to provide objective visual and audible in-tissue pressure feedback that allows anesthesiologists to identify the epidural space. The DPS instrument is a patented computer-controlled injection system geared to the needs of the medical market. The Companyâs is also focused on marketing the Epidural medical and trainer instruments in the United States. The Companyâs products include medical instruments, handpieces/disposables, and other related products. It sells its products primarily through medical facilities and a global distribution network.