increase of 112% from total revenue of $1.6 million in the fiscal 2005
first quarter. Domestic revenue was $2.8 million and international
revenue was $619,000, increases of 164% and 12%, respectively, over the
fiscal 2005 first quarter. Total revenue comprised $1.3 million in
revenue for INRatio(R) meters and accessories, reflecting 91% growth
from the fiscal 2005 first quarter, and $2.1 million in revenue for
INRatio test strips, an increase of 129% from the fiscal 2005 first
HemoSense reported a gross profit of $1.1 million
for the quarter, or 32% of total revenue, up from a gross loss of
$383,000 for the fiscal 2005 first quarter. This also marks a
significant improvement over the 12% gross profit margin in the fourth
quarter of fiscal 2005, which was the Company's first-ever quarter with
positive gross profit. The improvement from the prior year was
primarily due to higher unit sales and production volumes of test
strips and process efficiencies.
They still lost money for the quarter - operating as a public company, sales and marketing expenses, R&D - but they are coming right along. That $10 million private equity placement will help lengthen their "cash runway."