Calmare Therapeutics Incorporated Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016
Calmare Therapeutics Incorporated announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. Revenues from the commercial sale and shipment of Calmare® pain therapy devices (Devices)for the three months ended March 31, 2016 were $56,000 as compared with $8,000 for the three months ended March 31, 2015. Net loss for the three months ended March 31, 2016 was $878,000 or $0.03 per basic and diluted share as compared with a net loss of $1,004,000 or $0.04 for the three months ended March 31, 2015. Operating loss was $585,351 against $815,801 a year ago. Loss before income taxes was $877,917 against $1,004,251 a year ago. Net cash used in operating activities was $523,870 against $294,744 a year ago.