SRI Surgical Reports First Quarter 2008 Financial Results
05/14/2008
TAMPA, Fla. — SRI/Surgical Express, Inc., a leading provider of reusable surgical device reprocessing services supporting the healthcare industry, announced financial results for the first quarter ended March 31.
For the first quarter of 2008, SRI Surgical reported total revenue of $23,968,000, an increase of $591,000 from the first quarter of 2007. The net loss for the first quarter of 2008 was $1,294,000 or $0.20 per basic and diluted common share compared to a net loss of $589,000, or $0.09 per basic and diluted common share reported for the first quarter of 2007. The first quarter 2008 net loss included a reserve valuation allowance of $468,000, or $0.07 per common share, for deferred tax assets.
Gerald Woodard, CEO, said, "Although we have faced challenges in the quarter, I believe we are making the right adjustments to our sales force and the account management and operations teams to support a new future for the company."
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