Franklin Device Firm Shrinks Losses
PLC Systems Inc. of Franklin said it managed a slight fourth quarter revenue increase and a slimmer net loss of $222,000 compared to a loss of $819,000 in the same period a year ago.
Revenue for the quarter was $1.3 million compared to $1.2 million a year ago. The medical device company ended the quarter with $5 million in cash compared to $8.1 a year ago.
For the year, PLC reported a net loss of $1.9 million compared to $2.4 million in 2007. Revenue for the year was $5.3 million compared to $6 million in 2007.
The company spent less on selling, research and development and administrative costs during the year and cut its operational loss from $923,000 in the fourth quarter of 2007 to $232,000 in 2008. Its operational loss for all of 2007 was $2.8 million compared to $2.1 million last year.
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