Bomed Medical Reports $1.3 Million in Revenue
With higher European sales, Bomed Medical Manufacturing Ltd. in Irvine reported Tuesday its highest annual revenue and smallest annual loss since going public in July, 1983.
The producer of heart monitoring equipment had revenues of $1.3 million for its fiscal year ended Nov. 30, more than six times the previous year’s sales of $203,770.
Its loss for the year was $319,320, about a quarter of the $1.3-million loss in the previous year.
Bomed, formed as a private company in 1980, attributed its losses mostly to research and development. Bea Aday, director of personnel and investor relations, said the company expects to end the red ink in its first six months and is striving for its first profitable year.
Dissatisfied with the performance of its American distributor, Bomed is interviewing applicants to begin a more aggressive sales effort in the United States, Aday said.
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