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200% growth in revenue for the nine months ended
June 30, 2017
$17.5 millionfor the nine-month period and profit of $1.6 million
“We have continued our solid financial growth this past quarter, with
year-to-date revenue growth of over 200% to
We have proven that we can compete with the largest companies in our markets based on the strength of our products. We continue to hear from clinicians every day that our products make a significant difference in protecting their patients from infection and helping them to heal. To that end, we have launched a number of products over the past year, including an improved version of IV Clear, significant expansion of our CovaWound line of advanced wound care products and several new MediClear branded products in our peri-operative portfolio.
During our third quarter, we also launched our new Centaur Coating technology that has significant advantages for companies looking to upgrade existing product lines with new low friction, low particulate enhancements that can also provide antimicrobial protection to patients. This technology has been demonstrated to be highly effective for improving the safety and functionality of intravascular medical devices such as catheters, guidewires and delivery sheaths where the presence of unwanted particulate can cause significant patient complications.
We anticipate that we will end the current fiscal year with additional
growth in our fourth quarter ending
A conference call to discuss Covalon’s financial results will be held
Local / International: 416-640-5946
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This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.