Business & Finance
KORU Medical Systems achieves higher USD0.02 per diluted share for Q3 2019
6 November 2019 -

Infusion system supplier KORU Medical Systems (NASDAQ:KRMD) disclosed on Tuesday that its net income amounted to USD0.7m (USD0.02 per diluted share) for the third quarter ended 30 September 2019.

This marks an improvement when compared with net income of USD0.4m (USD0.01 per diluted share) in the third quarter of 2018.

Net sales of USD6.6m were reported in the third quarter of 2019, which rose 45.5% versus USD4.5m in the third quarter of 2018. This was driven by the company's continued success in expanding its presence in the Primary Immune Deficiency Disease (PIDD) and Chronic Inflammatory Demyelinating Polyneuropathy (CIDP) markets, as well as large orders from a domestic distributor, a new customer in Europe, and clinical trials.

Adjusted EBITDA of USD2.1m was recorded in the third quarter of 2019, a rise from Adjusted EBITDA of USD1.1m in the previous the third quarter.