Microfluidics International Corp. (OTC:MFLU) marked its fourth consecutive profitable quarter, posting a 30.1 percent increase to its top line during the three months ended June 30.
The Newton, Mass.-based material-processing tools maker reported net income of $143,000, or 1 cent per diluted share, on sales of $4.5 million for the quarter. That compares with a net loss of $177,000, or 2 cents per diluted share, on sales of $3.5 million during Q2 2009.
In addition to a full year of profitability, the quarter also marked the fourth consecutive period of 60 percent groos margins, president and CEO Michael Ferrara said in prepared remarks.
North American sales drove the top-line increase, accounting for $2.4 million of total revenues during the quarter. That’s a 58 percent increase over the same period last year. In January, Microfluidics inked a distribution deal with ATS Scientific Inc., extending its reach across most of Canada. Under the deal, ATS will be the exclusive distributor in Canada of the Microfluidizer processor, which uses fluids to break apart biological materials into uniform particles.
International sales also ticked up during the quarter, rising 7.7 percent to $2.1 million.