Bovie Medical earnings rise
Bovie Medical J-Plasma handpiece with retractable cutting feature Credit: Handout | FDA gives OK to Bovie Medical J-Plasma surgical handpiece
Bovie Medical Corp., a Melville medical equipment maker, reported a 9.4 percent rise in revenue Tuesday.
The company said revenue increased to $6.73 million during the first three months of 2012. Net income fell 62 percent during the quarter, to $187,000, compared to the same period last year. But the company’s first-quarter income for 2011 was boosted by a one-time legal settlement of $750,000.
The company was founded in the late 1970s to make disposable medical penlights. It now offers a variety of electrosurgical tools, manufacturing them at a facility in Florida.
In February, Bovie received FDA approval for a handheld surgical knife designed to make high-precision cuts without damaging surrounding tissue. The company’s stock is up 34 percent, to $2.90 a share, since the year began.
The boost comes at a crucial time for Bovie, which has suffered since the recession. Its stock lost 80 percent of its value between June 2009 and October 2010. On Tuesday, shares were up 2 cents, to $2.92, in midday trading.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
