Trimedyne, Inc. Reports Financial Results for the Second Quarter and Six Months Ended March 31, 2018
Trimedyne, Inc. reported financial results for the second quarter and six months ended March 31, 2018. For the quarter ended March 31, 2018, the company reported revenues of $1,352,000, an increase of 21% from revenues of $1,119,000 for the prior year quarter. The company had a net income for the current quarter of $24,000 or $0.20 per share, as compared to a net loss of $31,000 or $0.25 per share for the prior year quarter. The net income during the current quarter as compared to a net loss during the prior year quarter is a considerable improvement, which was primarily the result of an increase of export sales revenue and the continuation of the cost controls.
For the six-month period ended March 31, 2018, the company reported revenues of $2,886,000, an increase of 30% from revenues of $2,213,000 for the prior year six-month period. The company had net income for the current six-month period of $110,000 or $0.90 per share, as compared to a net loss of $256,000 or $2.09 per share for the prior year six-month period. The net income during the current six-month period as compared to a net loss during the prior year six-month period is a considerable improvement, which was primarily the result of an increase of export sales revenue and the continuation of the cost controls.