Trimedyne, Inc. Reports Earnings Results for the Fourth Quarter and Fiscal Year Ended September 30, 2012
For the full year, the company's revenues were $6,080,000, a 9% decrease from revenues of $6,656,000 for the prior fiscal year. The decrease in Revenue was largely due to a decrease in sales of Lasers, partially offset by an increase in sales of Fibers, Needles and Tips. Operating loss was $1,170,000 for the 2012 fiscal year, compared to an operating loss of $1,522,000 for the prior fiscal year. Due to economies instituted in the past year, the company had net loss of $836,000 or $0.05 per share for the fiscal year ended September 30, 2012, as compared to a net loss of $1,486,000 or $0.08 per share for the prior fiscal year. Included in the cost of sales for the fiscal year was a charge for excess and obsolete inventory of $225,000. Without this non-cash charge, the company's loss from operations for the fiscal year $945,000 and the company's net loss for the fiscal year would have been $611,000.