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escalon medical corp (ESMC) Key Developments

Escalon Medical Corp. Announces Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014

Escalon Medical Corp. announced earnings results for the third quarter and nine months ended March 31, 2014. For the quarter, the company reported net income was $86,084, or $0.01 per share, compared to a net loss of $285,864, or $0.04 loss per share, for the same quarter ended March 31, 2013. Net revenues for the third quarter ended March 31, 2014 were $3.15 million, compared to $2.72 million for the same quarter ended March 31, 2013. Net loss for the nine months ended March 31, 2014 was $9,223, or $0 per share, compared to a net income of $3.27 million, or $0.44 per share, for the same period ended March 31, 2013. Net revenues for the nine months ended March 31, 2014 were $9.36 million, compared to $8.63 million for the same period ended March 31, 2013.

Escalon Medical Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014

Escalon Medical Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2014. For the quarter, the company's revenues, net was $3,151,651 against $2,724,740 a year ago. Income from operations was $112,308 against loss from operations of $294,865 a year ago. Net income from continuing operations was $112,354 or $0.01 per basic and diluted share against net loss from continuing operations of $283,761 or $0.04 per basic and diluted share a year ago. Net income was $86,084 or $0.01 per basic and diluted share against net loss of $285,864 or $0.04 per basic and diluted share a year ago. For the nine months, the company's revenues, net was $9,360,219 against $8,635,078 a year ago. Income from operations was $60,719 against loss from operations of $781,847 a year ago. Net income from continuing operations was $68,426 or $0.01 per basic and diluted share against net loss from continuing operations of $781,424 or $0.10 per basic and diluted share a year ago. Net income was $9,223 against net income of $3,274,082 or $0.44 per basic and diluted share a year ago, which includes a net gain of $4.1 million related to the sale of Drew and related debt settlement.

Escalon Medical Corp. Enters into Distribution Agreement with BiCOM

Escalon Medical Corp. announced that it has entered into a distribution agreement with BiCOM Inc. to distribute its transpalpebral "Diaton" tonometer. The Diaton tonometer will be featured alongside the Company's new VuPad(TM) ultrasound system at the Annual Symposium and Congress of the American Society of Cataract and Refractive Surgery (ASCRS) in Boston, April 25-29 (booth 873). The Diaton tonometer is the world's only non-corneal contact tonometer used through the eyelid to quickly and painlessly determine intraocular pressure without directly touching the cornea or requiring use of topical anesthesia. The Diaton tonometer is particularly useful in cases where standard direct applanation tonometry is difficult or not viable, such as with pediatric patients, in presence of certain corneal pathology, following corneal surgery, and in cases of eye trauma. The Sonomed Escalon booth 873 at ASCRS will also feature for sale the company's newly introduced VuPad(TM) portable ultrasound device. The VuPad(TM) had a successful showing at the recent 2014 World Ophthalmic Congress in Tokyo as well as The Exchange 2014 in Boston, the annual meeting of Vision Source, North America's premier network of private practice optometrists.

Escalon Medical Corp. Receives FDA 510(K) Clearance for the Sonomed Escalon VuPad

Escalon Medical Corp. announced that it received U.S. Food and Drug Administration 510(k) clearance for its new tablet-based ultrasound imaging system, the Sonomed Escalon VuPad. The VuPad combines Sonomed Escalon's superior UBM and newly enhanced B-scan image quality with an ultra-high-resolution screen that has 25% larger viewing area than other portable ultrasound devices. Proprietary Enhanced Focus Rendering enables capture of both crisp still images and high-resolution video clips that can be reviewed frame-by-frame. The VuPad is also remarkably easy to use, due to intuitively designed touch screen controls.

Escalon Medical Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 30, 2013

Escalon Medical Corp. reported unaudited consolidated earnings results for the second quarter and six months ended December 30, 2013. For the quarter, the company's revenues, net was $3,078,485 against $3,640,761 a year ago. Loss from operations was $89,306 against income of $109,623 a year ago. Net loss from continuing operations was $82,715 or $0.01 per basic and diluted share against income of $126,527 or $0.02 per basic and diluted share a year ago. Net loss was $108,549 or $0.01 per basic and diluted share against income of $3,993,385 or $0.53 per basic and diluted share a year ago. For the six months, the company's revenues, net was $6,208,568 against $5,901,338 a year ago. Loss from operations was $51,590 against $486,982 a year ago. Net loss from continuing operations was $43,870 against $497,864 a year ago. Net loss was $95,309 or $0.01 per basic and diluted share against income of $3,559,960 or $0.47 per basic and diluted share a year ago.

 

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