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Trimedyne Reports Its Financial Results for the Quarter Ending on March 31, 2019

Irvine, CA, July 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- TRIMEDYNE, INC. (OTCPINK “TMED”) today reported its financial results for its quarter ending on March 31, 2019.

For the quarter ended March 31, 2019, Trimedyne had revenues of $1,396,000, an increase of 3% from revenues of $1,352,000 for the prior year quarter.  We had a net loss for the current quarter of $93,000 or $(0.76) per share, as compared to net income of $24,000 or $0.20 per share for the prior year quarter.

For the six-month period ended March 31, 2019, Trimedyne had revenues of $2,584,000, a decrease of 10% from revenues of $2,886,000 for the prior year six-month period.  We had a net loss for the current six-month period of $124,000 or $(1.01) per share, as compared to net income of $110,000 or $0.90 per share for the prior year six-month period.

Commenting on the financial results for the quarter, Glenn D. Yeik, Interim Chairman and CEO of Trimedyne, said: “Since the passing of our founder and long-time CEO, we have been extensively evaluating the business and working to plan and execute changes to provide more value to the shareholders.  We appreciate the patience of our shareholders, and we are working hard to improve our financial condition.”

To view Trimedyne’s financials, please click on this Link: Trimedyne, Inc. Financials for The Quarter Ended March 31, 2019

CONTACT: Jeffrey Rudner
(949) 951-3800, Ext. 285
jrudner@trimedyne.com