InnerDyne Releases First Quarter Financial Results

InnerDyne Inc. (Sunnyvale, CA) today announced financial results for the first fiscal and calendar quarter of 1999.

Net income for the three months ended March 31 was $350,799, or $0.02 per share on a diluted basis. First quarter 1999 product sales were $4,431,699, an increase of 17%. Total revenues for the first quarter of 1999 were $4,503,794, an increase of seven percent over total revenues of $4,205,772 for the same period last year. Gross margins for the first quarter of 1999 increased to 70%.

The company in January received clearance from the FDA for expanded labeling of the Step product line, which helps with complications associated with conventional trocars.

InnerDyne Inc. manufactures and surgical access products incorporating radial dilation technology.