VSM MedTech of Vancouver, British Columbia, posted upbeat results for its third quarter (end-September 30).
The company noted that strong sales of its magnetoencephalography (MEG) and BpTRU vital signs blood pressure monitoring equipment helped boost quarterly revenue to $2.4 million, up from $600,000 in the third quarter of 2004. The company's net loss improved to $4.6 million, compared with a net loss of $5.3 million in the same quarter a year ago.
For the nine-month period, revenue doubled to $7.8 million, compared with $3.9 million in the same period of 2004. The net loss declined to $10.8 million, compared with a net loss of $15.2 million in the same period last year.
No sales of VSM's magnetoencephalography (MEG) functional brain-mapping systems were recorded in the quarter.
By AuntMinnie.com staff writers
November 11, 2005
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