Covalon Technologies Ltd. announced earnings results for the first quarter ended December 31, 2016. For quarter, the company reported revenue of $5,608,927, profit of $543,110 or $0.03 per share compared to revenue of $2,440,633, profit of $267,310 or $0.02 per share a year ago. The improvement in the company’s revenue in the first quarter compared to the prior year includes the first shipments of IV Clear and ColActive Plus products to fulfil the tenders awarded to the company by the Ministry of Health in Saudi Arabia.