Business
MedMira Announces Third Quarter Results
Jun. 29, 2011 (Canada NewsWire Group) -- HALIFAX, June 29, 2011 /CNW/ - MedMira Inc., ("...
About this update from Medmira Inc.
[{"type":"text","content":"\n\n\n Jun. 29, 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, June 29, 2011 /CNW/ - MedMira Inc., ("MedMira") (TSX Venture:\n MIR, NASDAQ: MMIRF), a developer and marketer of rapid diagnostic\n technology and solutions, today announced its financial results for the\n three and nine month periods ending April 30, 2011.\n\n\n"The third quarter saw MedMira receive its first significant order from\n Triplex for the China market.  This order, demonstrating MedMira's\n revitalization in the reformed China market, is in production and\n slated for delivery to customers in the coming weeks," said Hermes\n Chan, CEO, MedMira Inc. "We are confident that this is just the\n beginning of significant sales activity in China.  In other markets our\n business development team and strategic partners continue to pursue\n many sales and marketing initiatives."\n\n\nFinancial Results\n\n\nProduct sales in the second quarter were $296 thousand, compared to $163\n thousand in the same quarter last year. Total sales for the nine months\n ending, April 30, 2011 were $661 thousand compared to $1,043 thousand\n for the same period last year. The net loss for the quarter was $881\n thousand ($1,006 thousand - 2010); total loss for the nine months\n ending, April 30, 2011 was $3,297 thousand ($0.015 per share) compared\n to $3,036 thousand ($0.017 per share), in the same period last year.\n Overall gross margin for the quarter was 50% (40% - 2010) and 49%...