Finance

Valve maker reports revenue up 42% through third quarter fiscal year 2004

Published in Drug Week, April 23rd, 2004

MedicalCV, Inc., (MDCVU), a Minnesota-based cardiothoracic surgery device manufacturer, reported net sales for its fiscal third quarter, ended January 31, 2004, rose 16% to $836,733 compared to $719,395 in the same period last year.

The increase was attributable to higher sales of the Omnicarbon heart valve in the Middle East and in the United States. The third-quarter net loss was $1,328,051 or $0.15 per share, versus a loss of $1,083,216 or $0.14 per share, in the same period year ago. The increase in loss for the quarter versus year-ago can be primarily traced to interest expense for bridge loan debt executed during the first quarter.

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Source: Drug Week (2004-04-23)

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