Conceptus (NSDQ:CPTS) touted a Q3 return to the black, back from previous losses reporting for the same period last year.
The Mountain View medical device maker posted $2.3 million net income, or 7¢ per share, on sales of $35.5 million. That compared with net loss of $2.9 million, or 9¢ per share, during the same period last year.
Worldwide sales increased 7.2% during the 3 months ended Sept. 30, 2012, driven partially by Conceptus’ Essure permanent birth control method, which saw a 10.2% bump during the quarter. Domestic sales were $29.1 million, representing an increase of $3.3 million or 14.3% from the last year.
"Our 3rd quarter financial performance represented continued solid progress with sales growth and profitability in this transition year," president & CEO Keith Grossman said in prepared remarks. "We remain focused on executing our transition plan, which includes restoring solid growth to our product and increasing profitability, growing sales in our former competitor’s accounts, positioning our organization for continued growth in 2013 and advancing our next-generation product."
The company expanded U.S. physician penetration for its Essure system during its 3rd quarter, entering 465 physicians into preceptorship, certifying 456 and transitioning 151 to perform the Essure procedures in the office setting. More than 14,000 U.S. physicians have performed an Essure procedure to date, according to the press release.