MedMira Announces Second Quarter Results

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[{"type":"text","content":"\n\n\n Apr. 1, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nHALIFAX, April 1 /CNW/ - MedMira Inc., ("MedMira") (TSXV: MIR) (NASDAQ:\n MMIRF), a developer and marketer of rapid diagnostic technology and\n solutions, today announced its financial results for the three and six\n month periods ending January 31, 2011.\n\n\n"Second quarter results are reflective of the extended sales cycle and\n complex market development activities that our global network of\n strategic partners are undertaking in various regions of the world. \n The decrease over the same quarter last year is also indicative of our\n North American customers moving to monthly purchasing cycles rather\n than irregular bulk inventory stock-up as was the case previously,"\n said Hermes Chan, CEO, MedMira Inc. "We are confident that the coming\n quarters will show improvement in results as opportunities fully mature\n in Asia Pacific, Africa, and elsewhere."\n\n\nFinancial Results\n\n\nProduct sales in the second quarter were $189 thousand, compared to $503\n thousand in the same quarter last year. Total sales for the six months\n ending, January 31, 2011 were $366 thousand compared to $880 thousand\n for the same period last year. The net loss for the quarter was $1,304\n thousand ($957 thousand - 2010); total loss for the six months ending,\n January 31, 2011 was $2,416 thousand ($0.01 per share) compared to\n $2,029 thousand ($0.01, per share), in the same period last year.\n O...

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