May 19, 2009
Encision Reports Fourth Quarter and Fiscal Year 2009 Results
BOULDER, Colo., May 19, 2009 -- Encision Inc. (OTC
Bulletin Board: ECIA), a medical device company owning patented surgical
technology that is emerging as a standard of care in minimally-invasive
surgery, reported its financial results for its fourth quarter and fiscal
year ended March 31, 2009.
Net sales for the fourth quarter of fiscal year 2009, ended March 31,
2009, totaled $3.1 million, representing a 3% decrease over net sales
of $3.2 million for the prior fiscal year's fourth quarter. The Company
recorded net income of $16 thousand or $.00 per share for the fourth
quarter of fiscal year 2009 compared to net income of $49 thousand or
$.01 per share for the fourth quarter of fiscal year 2008. Gross profit
margin for the fourth quarter of fiscal year 2009 was 64% as compared
to 63.5% for the fourth quarter of fiscal year 2008.
Net sales for the fiscal year ended March 31, 2009 totaled $12.8 million,
representing a 6% increase over net sales of $12.1 million for the prior
fiscal year. The Company recorded net income of $160 thousand or $.02
per share for the fiscal year 2009 compared to a net loss of $179 thousand
or $.03 per share for the fiscal year 2008. Gross profit margin for the
fiscal year 2009 was 62.3% as compared to 63% for the fiscal year 2008.
"Overall, our fiscal year 2009 was satisfactory given the challenges
that the medical device industry has faced during the most recent quarters.
This fiscal year was our first profitable fiscal year since fiscal year
2004," said Jack Serino, President and CEO of Encision Inc. "We
look forward to the coming fiscal year, especially after entering a sales
representation agreement with Caldera Medical and signing a non-exclusive
manufacturing, supply and licensing agreement with Intuitive Surgical."
Encision Inc. designs, develops, manufactures and markets innovative
surgical devices that allow surgeons to optimize technique and patient
safety during a broad range of surgical procedures. Based in Boulder,
Colorado, the Company pioneered the development of patented AEM(R) Laparoscopic
Instruments to improve electrosurgery and reduce the chance for patient
injury in minimally invasive surgery.
In accordance with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, the Company notes that statements in this
press release and elsewhere that look forward in time, which include
everything other than historical information, involve risks and uncertainties
that may cause actual results to differ materially from those indicated
by the forward-looking statements. Factors that could cause the Company's
actual results to differ materially include, among others, its ability
to increase net sales through the Company's distribution channels, insufficient
quantity of new account conversions, insufficient cash to fund operations,
scale up production to meet delivery obligations, delay in developing
new products and receiving FDA approval for such new products and other
factors discussed in the Company's filings with the Securities and Exchange
Commission. Readers are encouraged to review the risk factors and other
disclosures appearing in our filings with the Securities and Exchange
Commission. We do not undertake any obligation to update publicly any
forward-looking statements, whether as a result of the receipt of new
information, future events, or otherwise.
CONTACT: Marcia McHaffie, Encision Inc., 303-444-2600, mmchaffie@encision.com

SOURCE Encision Inc. |