Business
MedMira Reports 2013 Fourth Quarter and Year End Financial Results
Implementation of Strategic Plan Sets Foundation for Sales Growth, Automation, and Produc...
About this update from Medmira Inc.
[{"type":"text","content":"\n\n\nImplementation of Strategic Plan Sets Foundation for Sales Growth,\n Automation, and Product Launches in 2014\n\n\nHALIFAX, Nov. 28, 2013 /CNW/ - MedMira, Inc. (MedMira) (TSXV: MIR), a\n developer of rapid diagnostic technology and solutions, reported today\n on its financial results for the quarter and year ended July 31, 2013.\n Over the course of fiscal year 2013, MedMira began executing on a\n strategic plan and activities intended to drive positive growth and\n revenue generation in 2014.\n\n\nAccording to Hermes Chan, Chief Executive Officer, MedMira, \"We have\n implemented many strategic changes during fiscal year 2013, and we are\n confident that these changes have set the stage for MedMira's\n substantial growth in 2014.  Our sales and marketing team is now well\n resourced both internally and externally with a focus on key markets.\n We are also entering the implementation phase of manufacturing\n automation, and all major project milestones are being met on time and\n on budget.  These efforts are buoyed by a strong product pipeline,\n including the Multiplo and Miriad product ranges, and steadily\n increasing awareness and endorsement of our technology platform by\n customers, partners, and collaborators around the world.\"\n\n\nDespite some restructuring during this period, the Company maintained\n financial stability, continued to support ongoing sales and marketing\n activities, executed research and development initiatives, achieved\n technology advancements, and undertook major commercialization projects\n for key customers and partners.\n\n\n\"Our strengthened business development and sales and marketing programs,\n with key hires in the US and internationally and our network of\n strategic partners, positions us well to take our technology and\n products forward in to new markets in 2014,\" Chan added.\n\n\nFinancial Highlights\n\n\n\nThe Company recorded revenue in the year ended July 31, 2013 totalling\n $2,001,464, which included product sales, related royalties, and\n service sales, as compared to $970,631 for the same period last year,\n which included product sales and related royalties, an increase of\n $1,030,833.\n\n\n\n\nMedMira's revenue from product sales and related royalties in the year\n ended July 31, 2013 was $864,798 as compared to $970,631 for the same\n period last year. Gr...