Business & Finance
MGC Diagnostics posts higher net income of USD760,000 for Q3 fiscal 2017
7 September 2017 -

Medical technology company MGC Diagnostics Corporation (Nasdaq:MGCD) disclosed on Wednesday its net income of USD760,000 (USD0.17 per diluted share) for the third quarter fiscal 2017.

This marks an improvement of 193% when compared with net income of USD260,000, or USD0.06 per diluted share, in the fiscal 2016 third quarter,

The company said the rise in net income in Q3 fiscal 2017 is due in large part to a USD657,000 foreign currency pre-tax gain as the Euro strengthened against the dollar.

Revenue of USD10.4m were generated for third quarter fiscal 2017, up 6% over revenues of USD9.9m in the prior year period . The sales backlog rose 37% to USD2.3m at the end of the quarter versus USD1.7m at the end of the fiscal 2016 third quarter.