Angeion Reports Decrease In Revenues

Angeion has posted a revenue of $6.2m for the first quarter of 2009, compared to $7.5m for the same period of 2008. The operating income for the company was $170,000, a decline compared to $248,000. The company incurred a net loss of $173,000, or $0.04 per share, as compared to $259,000, or $0.06 per share for the same period of 2008.

For the nine month ended period, the company has reported a revenue of $18.8m, compared to $22.4m for the prior year. The company incurred an operating income of $1m, an increase compared to $878,000 for the prior year. The net loss for the third quarter increased to $1.02m, or $0.25 per share, compared to $789,000, or $0.19 per share, for the third quarter of 2008.

Rodney Young, president and CEO of Angeion, said: “Given the ongoing tough global economic conditions and continued pressures on capital spending facing hospitals and physician clinics, we are encouraged by our third-quarter results, achieving sequential quarterly sales gains,in recent quarters we’ve taken definitive actions to: sharply focus on closing each potential account sale; aggressively manage operating expenses; and prioritize new product and business development activities. These initiatives are taking hold and producing positive results. We are on our way to realizing our longer-term growth prospects and executing our strategic priorities to bring a restoration of growth, profitability and shareholder value.

“Going forward, it is our plan to become a principal player in providing health and wellness solutions by expanding New Leaf’s product and services offering to tackle the growing healthcare crisis.”