BOULDER, Colo., 19 mei 2021 / PRNewswire / - Encisie Inc. (PK: ECIA), a medical device company owning patented Active Electrode Monitoring (AEM®) Technology that prevents dangerous stray electrosurgical burns in minimally invasive surgery, today announced financial results for its fiscal 2021 fourth quarter that ended 31 maart 2021.

The Company posted quarterly net revenue of $ 2.15 miljoen for a quarterly net income of $ 116 duizendof $0.01 per diluted share. These results compare to net revenue of $ 1.78 miljoen for a quarterly net loss of $ 116 duizendof $ (0.01) per diluted share, in the year-ago quarter. Gross margin on net revenue was 54% in the fiscal 2021 fourth quarter and 53% in the fiscal 2020 fourth quarter.

The Company posted twelve months net revenue of $ 7.54 miljoen for a twelve months net income of $ 585 duizendof $0.05 per diluted share. Net income included $ 599 duizend of extinguishment of debt income. These results compare to net revenue of $ 7.67 miljoen for a twelve months net loss of $ 198 duizendof $ (0.02) per diluted share, in the year-ago twelve months. Gross margin on net revenue was 52% in the fiscal 2021 and fiscal 2020 twelve months.

“Product revenue for our fourth quarter of fiscal 2021 had almost rebounded from pre-COVID surgical procedures levels and increased 8% from our fourth quarter of last year. Total revenue, which included service revenue, increased 21% from our fourth quarter of last year,” said Gregory Trudel, President and CEO of Encision Inc. “We continue to be positive as we assess how surgery rebounds from the pandemic. We continue to flex our channel strategy and tactics as we encounter varying degrees of access to our customers.”

“Service revenue for our fourth quarter of fiscal 2021 resulted from services performed under a Master Services Agreement with Auris Health, Inc. (“Auris Health”), a part of the Johnson & Johnson family of companies. Under the agreement, we are collaborating on the integration of AEM Technology into monopolar instrumentation produced by Auris Health for advanced surgical applications. This work is ongoing and is reported separately, as service revenue, in our Statement of Operations.”

“During the fiscal year, we began selling our AEM 2X enTouch® Scissors (“2X Scissors”). 2X Scissors bring new levels of performance and value to the surgical scissor market by combining the best in class performance of our enTouch Disposable Scissors with the economy of a multi-use device. 2X Scissors are a game-changing product that will have a significant impact on the disposable laparoscopic scissor market. Our enTouch Disposable Scissors have long been the surgeon preferred product because of their sharpness and micro-serrations. Our new 2X Scissors provide all those benefits at half the cost per use and reduce hospital waste and the impact on the environment as well. The new thermochromic technology integrated into 2X Scissors lets a hospital know when to replace the scissors with new ones and makes tracking their use simple and easy. Superior performance, superior value, easy to use, and easy on the environment – that’s what customers want in a disposable scissor. 2X Scissors work perfectly with hot AEM dissection and are also priced to be used for cold dissection. 2X Scissors will open new use segments for us and create an opportunity for customers to standardize on our entire portfolio of Active Electrode Monitoring (AEM®) products.”

“In February, we entered into an unsecured promissory note under the Paycheck Protection Program (“PPP”) for a principal amount of $533,118. Under the terms of the CARES Act, a PPP loan recipient may apply for, and be granted, forgiveness for all or a portion of loans granted under the PPP. Such forgiveness will be determined based upon the use of loan proceeds for payroll costs, rent and utility costs, and the maintenance of employee and compensation levels. We expect that we will achieve the requirements for forgiveness of that note.”

Encision Inc. designs and markets a portfolio of high-performance surgical instrumentation that delivers advances in patient safety with AEM technology, surgical performance, and value to hospitals across a broad range of minimally invasive surgical procedures. Based in Boulder, Colorado, was het bedrijf een pionier in de ontwikkeling en implementatie van Active Electrode Monitoring, AEM-technologie, om gevaarlijke brandwonden door zwerfenergie tijdens minimaal invasieve procedures te elimineren. Voor meer informatie over al onze producten kunt u terecht op www.encision.com.

In overeenstemming met de safe harbour-bepalingen van de Private Securities Litigation Reform Act van 1995 merkt het bedrijf op dat verklaringen in dit persbericht en elders die vooruitkijken in de tijd, die alles behalve historische informatie omvatten, risico's en onzekerheden met zich meebrengen die daadwerkelijke gevolgen kunnen hebben. De resultaten kunnen wezenlijk verschillen van de resultaten die in de toekomstgerichte verklaringen worden aangegeven. Factoren die ertoe kunnen leiden dat de werkelijke resultaten van het bedrijf wezenlijk verschillen, zijn onder meer haar vermogen om nieuwe of verbeterde producten te ontwikkelen en dergelijke producten op de markt geaccepteerd te krijgen, haar vermogen om de netto-omzet te verhogen via de distributiekanalen van het bedrijf, haar vermogen om succesvol te concurreren ten opzichte van andere fabrikanten van chirurgische instrumenten, onvoldoende aantal nieuwe rekeningconversies, onvoldoende contant geld om operaties te financieren, vertraging bij de ontwikkeling van nieuwe producten en het verkrijgen van FDA-goedkeuring voor dergelijke nieuwe producten en andere factoren die worden besproken in de documenten die het bedrijf indient bij de Securities and Exchange Commission. Lezers worden aangemoedigd om de risicofactoren en andere openbaarmakingen in het jaarverslag van het bedrijf op formulier 10-K voor het afgelopen jaar te bekijken. 31 maart 2020 and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise.

CONTACT: Mala Ray, Encision Inc., 303-444-2600, mray@encision.com

Bekijk originele inhoud:http://www.prnewswire.com/news-releases/encision-reports-fourth-quarter-fiscal-year-2021-results-301294439.html

BRON Encision Inc.

Bedrijfscodes: OTC-BB:ECIA, OTC-PINK:ECIA

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Source: https://www.biospace.com/article/releases/encision-reports-fourth-quarter-fiscal-year-2021-results/?s=93