CRMMF
Hot off the press:
Press Release: CRH Medical Announces Fiscal 2013 Results
7 minutes ago - DJNF
CRH Medical Announces Fiscal 2013 Results
Canada NewsWire
VANCOUVER, March 19, 2014
- Also Announces Date for First Quarter 2014 Results -
VANCOUVER, March 19, 2014 /CNW/ - CRH Medical Corporation (TSX: CRH) (OTCQX: CRMMF), a North American medical company focussed on providing physicians with innovative products for the treatment of gastrointestinal diseases, today announced its audited financial results for the year ended December 31, 2013. All financial results are expressed in U.S. dollars.
2013 Financial Highlights
(in 000's of US$) 12-Month 2013 12-Month 2012 Change
Revenue $7,683 $6,849 +12%
Total operating
expenses $5,883 $5,517 +7%
Net income
before taxes $1,800 $1,332 +35%
Income tax
recovery $693 - n/a
Net income $2,493 $1,332 87%
"We are pleased with our revenue and net income performance in 2013," said Edward Wright, Chief Executive Officer of CRH Medical. "For 2014, we will continue to focus on growing revenue and work to identify complementary products or services that will enhance shareholder value."
The Company's lead product, the O'Regan System is a single use, disposable, hemorrhoid treatment that is safe and highly effective in treating hemorrhoid grades I - IV. CRH Medical's goal is to establish the O'Regan System as the standard of care for hemorrhoid treatment. In addition to the product, the Company delivers clinical, marketing and operational support directly to its partner physicians.
Financial Results
Revenues for the year ended December 31, 2013 were $7,682,628 compared to $6,848,643 for the year ended December 31, 2012. The increase in revenue is the result of the Company's sales of its CRH O'Regan System direct to physicians.
AI
