Angeion Corp.’s (NSDQ:ANGN) FY2011 earnings for its second quarter ending April 30 reported $138,000, or 4 cents per diluted share, in losses, 75.3 percent better than the $559,000 in losses, or 13 cents per diluted share, for the same time last year.
The decreased losses amount to a 69.2 percent difference for the company’s diluted share value.
Sales decreased by less than 1 percent from second quarter FY2010’s $6.9 million to $6.8 million, reported for the second quarter this year.
The St. Paul, Minn.-based cardiorespiratory diagnostic device maker attributed the company’s stunted growth to difficulties in the market.
"While we are seeing modest improvements in some market conditions, lingering effects of the economic downturn continue to impact quarter-over-quarter results—and we experienced that in the second-quarter as revenue levels and customers continued tentative buying behaviors," said Jim Gaul, senior vice president of global sales in the report.
The company did not hold its scheduled investors’ conference call, citing management transitions. The company announced yesterday that it would be parting ways with CEO Philip Smith after less than six months on the job.
Sonova’s 2010 sales, earnings rise
Sonova (VTX:SOON), the Swiss hearing instruments maker, posted sales and earnings increases for its 201 fiscal year ended March 31. The Stäfa, Switzerland-based company reported a top line of $1.60 billion, up 7.8 percent compared with $1.49 billion during FY2009. Sonova netted $228.8 million, or $3.44 per diluted share, compared with $214.5 million, or $3.25 per share, during the prior year.
Sectra swings to FY2010 operating loss
Sectra (OMX:SECTB) swung to an operating loss during its 2010 fiscal year ended April 30 of $1.2 million, compared with a profit of $3.4 million during the prior year. Net sales were $131.9 million, up 7.4 percent compared with $122.8 million during FY2009.