MMT net revenues rise 24%

Meridian Medical Technologies of the USA says that, for the year endedJuly 31, net earnings increased 24% to $2.9 million, with earnings per share rising 16% to $0.81. Revenues were up 6% to $58.1 million.

For the fourth quarter, net income increased 13% to $1.2 million, or $0.33 per share, though revenues slipped 2.4% to $16.3 million.

James Miller, Meridian's chief executive, said that earnings met expectations, "as we reduced costs and improved operational efficiency to enhance our ability to capitalize on opportunities for long-term growth." He added that the group has recently achieved a significant milestone with the completion of clinical trials and submission of its PRIME ECG electrocardiac mapping system to the US Food and Drug Administration, noting that it "represents the first major innovation in non-invasive ECG technology in nearly 60 years."