QT Vascular’s 3Q losses narrow to US$9.5 mil on higher sales

SINGAPORE (Nov 14): QT Vascular, the manufactuer of drug-coated balloon catheters, reported 3Q losses narrowed 71.2% to US$9.5 million ($13.4 million) from a year ago on lower expenses.

Revenue for the quarter dipped 5.4% to US$2.3 million, dragged down by lower sales of the Chocolate PTA Balloon Catheter, although this was partially offset by the increase in sales of the Chocolate PTCA Balloon Catheter and Glider PTCA by the direct sales team. The direct sales team has seen a 64.5% increase in average sales per sales representative to US$92,332 in 3Q16.

However, results from operating activities fell 80.1% to US$.7 million as administrative expenses fell 56.4% to US$1.7 million and the absence of other expenses of US$21.3 million which was recorded a year ago.

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