Utah's BSD Medical reports lower six month, Q2 revenue
BSD Medical Corp., a medical products company that provides systems to treat cancer and benign diseases using heat therapy, reported slightly lower revenue for its second quarter and first six months of its 2012 fiscal year.
The Salt Lake City-based company said its revenue for the six-month period that ended Feb. 29 was $930,881 compared with $951,424 for the same period a year earlier.
And that resulted in a loss of $3.8 million, or 13 cents per share, compared with the loss of $2.5 million, or 9 cents per share, for the similar period a year ago.
"Our year-to-date revenues are comparable to revenues for the same period last year," said President and CEO Harold Wolcott.
However, Wolcott noted that the company has refocused on an expansion of a fee-per-use equipment rental program for several of its treatment systems in an effort to accelerate revenues.
He said BSD also has added experienced sales personnel in key markets and believes the equipment rental program will produce successful results throughout the United States.
"We have a strong balance sheet, no debt, and believe we are sufficiently capitalized to continue our sales and marketing and product development efforts," Wolcott said.
For the second quarter, BSD reported revenue of $271,833 compared with revenue of $444,439 for the same period a year earlier. The second quarter loss was $2.1 million. A year ago, BSD recorded a second quarter loss of $1.5 million.