Neovasc Q1 Loss Widens

5/29/2012 11:30 AM ET

Neovasc Inc. (NVC.V: Quote) Tuesday said its loss for the first quarter widened from last year, due mainly to an increase in non-cash share-based payments, notwithstanding a 46 percent growth in revenues.

The Richmond, Canada-based company reported a first-quarter net loss of C$1.27 million or C$0.03 per share, compared to C$973 thousand or C$0.02 per share last year, affected primarily by an increase in non-cash share-based payments of C$227 thousand.

Total revenues for the quarter surged to C$1.71 million from C$1.17 million in the prior-year quarter.

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by RTT Staff Writer

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