Surgical device manufacturing company Encision generated $336,000 in net income for fiscal year 2018, up from a $729,000 loss the previous year.
Here are four quick facts.
1. The Boulder, Colo.-based company reported $8.75 million in revenues for the year, a $120,000 dip from fiscal year 2017.
2. In the fourth quarter of 2018, Encision posted a net loss of $18,000. It lost $115,000 the previous year.
3. Encision's fourth quarter net revenue was $2.04 million.
4. Encision owns patented technology for preventing fatal stray electrosurgical burns during laparoscopic surgery.
"This past year has been a turning point for Encision," President and CEO Greg Trudel said. "We delivered new levels of operational excellence, launched new products and delivered black ink on the bottom line for the first time in recent history. Our focus going forward will be to grow the top line. To that effect, we have already strengthened our sales channel with direct sales representation to fill strategic gaps in the marketplace and to eliminate underperforming distribution relationships."