Encision Inc. (PK: ECIA) saw a rebound in sales in the first quarter of 2021 as the medical industry slowly returns to performing surgeries that were halted by the pandemic.
The Boulder developer of medical equipment that minimizes electric burns on patients during surgery reported revenues of $2.15 million and a gain of 1 cent per share, compared with revenues of $1.78 million and a net loss of 1 cent per share in the same period last year.
CEO Gregory Trudel said the increase in sales was primarily due to the return of some surgery options across the country earlier in the year thanks to a wave of vaccinations making the spread of COVID less of a threat.
“We continue to be positive as we assess how surgery rebounds from the pandemic,” he said in a statement.
The company’s revenues were also buoyed with a $108,000 inflow in the quarter from its new services business, making up a large portion of the $258,000 that business generated in the trailing 12 months. Those sales were primarily driven by a contract the company landed with a division of Johnson & Johnson (NYSE: JNJ).
Encision listed having $1.47 million in cash on hand at the end of March, compared with $385 million the year prior.
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