Net income was $377,000 for the first quarter 2010, or $0.02 loss per diluted share, compared to $1.92m, or $0.11 per diluted share, for the comparable period in 2009.
SurModics‘ income from operations was $720,000, compared to $2.77m for the comparable period in 2009.
SurModics’ president and CEO Gary Maharaj said by refocusing their efforts within a well-defined core, they have an opportunity to build upon their strengths to create sustainable, long-term growth and shareholder value.
"During the coming months, I will be working diligently with the management team and the Board to develop our strategic plan, and I look forward to sharing more details as they emerge," Maharaj said.