Health Canada cleared the skin treatment device for distribution there, adding the country to the Wayland cosmetic laser treatment maker’s sales territories in the United States, Europe and Australia.
Instrumentation Laboratory landed 510(k) approval from the Food & Drug Administration for its ACL AcuStar hemostasis testing system, clearing the way for the immunoassay analyzer to hit the market.
IL said it will begin selling the device, which is a fully-automated hemostasis immunoassay analyzer that uses chemiluminescent markers, in Europe — and it will have some extra euros to spend on marketing.
The bad news for the Westford-based cosmetic laser firm is the 61 percent revenue plunge it posted for the three months ended March 31, slightly more than the 60 percent decrease it predicted.
First-quarter sales fell to $14.8 million, down from $36.7 million during the first quarter of 2008. The drop was enough to reverse a net gain of $4.8 million during the first three months of 2008 into a $4 million loss for the quarter.
The Marlborough-based molecular diagnostics firm, which is developing tests for colorectal cancer, posted sales of $1 million for the three months ended March 31, compared with $51,000 during the same period last year.
Sales and earnings continued to slide for NMT Medical Inc., as its hospital customers scaled back inventories in response to the down economy.
The Boston cardiac implant maker posted sales of $3.48 million for the three months ended March 31, down 27.9 percent compared with the same period last year.
NMT’s quarterly net loss widened by 2.2 percent, reaching $3.8 million compared with $3.9 million during the first quarter of 2008.
Company officials chalked up the slide to hospitals reducing their inventories, taking longer to re-order NMT’s non-invasive cardiac repair products and thereby lengthening its sales cycle.
“Flat is the new up these days.”
During a preliminary review of the consulting firm’s look at the medical device sector, “Pulse of the Industry,” Ramko said companies that manage to keep sales and earnings flat are doing well, given the economic realities.
“Companies are facing a lot of tough decisions,” Ramko told the audience at Boston’s John F. Kennedy Presidential Library & Museum. “It’s just a challenging time.”
THe Bedford-based women’s health products maker’s stock slipped more than 10 percent in after-hours trading today, to $14 per share, after posting a high of $15.72 during the day.
The Braintree firm, which makes a suite of products for blood banking and blood management, posted $152.4 million in fourth-quarter sales, up 10 percent compared with $138.7 million during the same period last year.
Net income for the three months ended March 29 reached $13.9 million, a 1 percent uptick compared with $13.7 million during the fourth quarter of 2008.
Congress last week approved President Barack Obama’s budget, and in doing so eased the path for passage of healthcare reform, one of his administration’s principal domestic initiatives. The Senate Finance Committee is getting down to the hard work of actually writing the healthcare reform bill that will, possibly by early summer, be the focal document for debate on the issue. Building on a series of roundtable discussions with key stakeholders and months of concentrated staff effort, the committee met in executive session April 29 to begin the process of selecting among alternative ideas.
Haemonetics Corp. plans to buy back more than $40 million worth of its own stock in a move to boost its share price.
Who could blame them? Strong year-end earnings and sales failed to impress Wall Street, where the Braintree blood management company’s stock dropped more than 10 percent today in early-morning trading following the earnings announcement. Shares were down more than $5 before a slight lunchtime rebound.