Sunshine Heart Inc (SSH) saw its loss narrow to $0.94 million, or $1.75 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $4.79 million, or $7.82 a share. Revenues for the quarter were $0.90 million. The company has not recorded any revenues for the previous year period. Gross margin for the quarter was at 42.95 percent.
Operating loss for the quarter was $2.31 million, compared with an operating loss of $4.56 million in the previous year period.
“Our focus remains on serving the large number of heart failure patients in the U.S. with fluid overload who could benefit from our Aquadex therapy” said John Erb, chairman and chief executive officer. “We are very excited about our revitalized and growing business.”
Working capital turns negative
Working capital of Sunshine Heart Inc has turned negative to $0.81 million on Mar. 31, 2017 from positive $10.48 million on Mar. 31, 2016. Current ratio was at 0.79 as on Mar. 31, 2017, down from 2.53 on Mar. 31, 2016.
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