During Friday’s Morning trade, Shares of IntriCon Corporation (NASDAQ:IIN), lost - 3.90% to $7.40.
IntriCon Corporation, declared financial results for its third quarter ended September 30, 2015.
Highlights:
- Net sales of $17.3 million raised sequentially and over the preceding-year period;
- The company continued to deliver profitability with net income of $628,000, or $0.10 per diluted share;
- IntriCon’s Medtronic business posted record quarterly revenue, rising 30 percent over the 2014 third quarter;
- The company launched several key partnerships, counting, a joint venture with the Academy of Doctors of Audiology (ADA), earVenture LLC (earVenture) and a planned supplier agreement with AudioNova; and,
- IntriCon recently attained the assets of PC Werth Limited, a leading supplier of hearing healthcare products and equipment to the United Kingdom’s National Health Service (NHS).
Financial Results
For the 2015 third quarter, the company stated net sales of $17.3 million, contrast to $17.0 million in the preceding-year period. IntriCon posted net income of $628,000, or $0.10 per diluted share, as compared to net income of $558,000, or $0.09 per diluted share, for the 2014 third quarter.
“We are happy with our third-quarter performance as we continue to deliver profitability while concentrating resources on building the infrastructure required to secure high-potential growth opportunities, especially in the value hearing health space,” said Mark S. Gorder, president and chief executive officer of IntriCon. “We made noteworthy strides in this area during the quarter, most notably by launching earVenture. This joint venture is further evidence that the hearing health market is changing and opportunities exist in various emerging value channels, which we are well-positioned to address.”
Gross profit margins were 26.7 percent contrast to 26.3 percent in the preceding-year third quarter. The improvement was primarily due to higher overall sales volumes.
IntriCon Corporation, together with its auxiliaries, designs, develops, engineers, and manufactures body-worn devices primarily in the United States, Europe, and the Asia Pacific. It offers micro-miniature products, microelectronics, micro-mechanical assemblies, high-precision injection-molded plastic components, assemblies for bio-telemetry devices, hearing instruments, and professional audio communication devices.
Shares of Ocular Therapeutix Inc (NASDAQ:OCUL), inclined 8.94% to $8.77, during its current trading session.
Ocular Therapeutix, declared financial results for the third quarter ended September 30, 2015.
“Our product development programs advanced meaningfully during the third quarter with an NDA submission to the Food and Drug Administration for our lead product candidate, DEXTENZA for a post-surgical ocular pain indication, in addition to the reporting of clinical trial results of DEXTENZA in our Phase 3 allergic conjunctivitis program and our Phase 2b glaucoma program,” said Amar Sawhney, Ph.D., President and Chief Executive Officer. “We are happy by the productivity of our research and clinical teams, who are dedicated to developing sustained-release ophthalmic therapies with proprietary tailored hydrogels that offer preservative-free, one-time administration or once in every few months therapy with potentially greater compliance and better patient outcomes.”
Ocular Therapeutix, Inc., a biopharmaceutical company, focuses on the development and commercialization of therapies for eye diseases and conditions using its proprietary hydrogel platform technology in the United States. It markets ReSure Sealant, a topical liquid hydrogel that creates a sealant to prevent post-surgical leakage from clear corneal incisions during cataract surgery.
Finally, Shares of E. W. Scripps Co (NYSE:SSP), lost -0.92%, and is now trading at $20.37.
The E.W. Scripps Company, has named David Abel as vice president and general manager of the Scripps radio operations in Tulsa, Oklahoma which comprise KVOO-FM, KHTT-FM, KBEZ-FM, KXBL-FM and KFAQ-AM. Abel will start in his new role on Nov. 23.
“David’s broadcast and digital experience, in addition to his strong leadership track record, makes him a great fit with Scripps and our Tulsa team,” said Steve Wexler, vice president of radio for Scripps. “I’m thrilled to welcome him to our company.”
Most recently, Abel was VP/GM for Apex Broadcasting where he managed radio stations in Charleston, South Carolina and Hilton Head, South Carolina. Abel also served as a sales manager for Cox Media Group stations in Greenville, South Carolina, Orlando, Florida, and Birmingham, Alabama. Radio Ink magazine recently named Abel one of the “Best Managers in Radio.”
The E. W. Scripps Company, together with its auxiliaries, operates as a media enterprise with interests in television stations, newspapers, and local and national digital media sites. It produces news and information content that informs and engages local and national communities; and operates digital sites offering local news and information, and user-generated content.+