Pancretec Inc. reported a $338,000 net loss and $414,504 in revenues for the second quarter ended Dec. 31. Last year the company reported a $356,055 net loss and $20,139 in revenues.
Pancretec reported a $721,623 net loss and $878,000 in revenues for the first half compared to a net loss of $893,323 and revenues of $414,504 a year earlier.
"Ongoing cost-reduction efforts and an emphasis in sales and marketing efforts" led to the sales increase and reduced loss, according to Richard W. Turner, president and chief executive.
The San Diego-based company manufactures and markets devices which deliver a predetermined dosage of medication to patients under medical supervision.