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Vycor Medical provided its financial results for the three and six months that ended on June 30, 2017.
Vycor Medical (OTCQB:VYCO) provided its financial results for the three and six months that ended on June 30, 2017.
As quoted in the press release:
Vycor’s revenues for the six months ended June 30, 2017 were $736,000 compared to $779,000 for the same period in 2016. Cash Operating Loss[1] was $235,000, as compared to $329,000 for the same period in 2016, a reduction of 29%, and Operating Loss was $654,000, compared to $806,000, a reduction of 19%.
“We are disappointed with the Vycor division revenues in the second quarter, however, this was largely due to delays created by our investment program in manufacturing and new products, and these delays have now been resolved,” said Peter Zachariou, CEO of Vycor Medical. “NovaVision’s patient volumes have now outstripped the impact of our lowered pricing to patients, so we are continuing to see growth in revenues and patient numbers. We continue to decrease our Cash Operating Loss[2] despite our investment in manufacturing and new products, which reduced to $235,000 for the six months compared to $329,000 for the same period in 2016.”
Click here to read the full press release.
Source: www.accesswire.com