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CardioTech International, Inc.
Fifty-one percent reduction in fiscal 2003 loss reported by device company
July 30th, 2003
CardioTech International, Inc., (CTE) reported revenue for the year ended March 31, 2003, of $3,394,000 compared with $3,220,000 for the comparable prior year period, an increase of $174,000 or 5%. The most significant contributor to increasing revenues came from continued growth at Catheter and Disposables Technology (CDT), a full-service OEM manufacturer. OEM product sales were $2,343,000 for the year ended March 31, 2003, as compared to $1,962,000 for the comparable prior year period, an increase of $381,000 or 19%. CDT has been successful in achieving overall sales growth as well as increasing the level of sales from its outsourced manufacturing...
Source: Biotech Week (2003-07-30)
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