Cambridge Heart Inc. (NSDQ:CAMH) sold eight of its cardiac monitors during the three months ended March 31, en route to a $1.4 million net loss on $658,000 in total revenues for the period.
The Tewksbury, Mass.-based company reported $805,000 in revenues during the year-ago quarter. Company officials blamed the 18-percent sales decline on continued weakness in the medical-equipment market and uncertain prospects for ongoing government and insurance-company reimbursements. The firm also cited its own limited distribution network for curtailing potential sales.