Encision Inc. (OTCMKTS:ECIA) Stock Reports Quarterly Earnings: Stock Jumps 12% In a Week

February 11, 2022February 11, 2022 Pete Matthews $ECIA, $ECIA news, $ECIA stock, $Encision Inc. (OTCMKTS:ECIA), $OTCMKTS:ECIA

Encision Inc. (OTCMKTS:ECIA) is up 12% in a week. The medical firm which owns the proprietary Active Electrode Monitoring tech that prevents radiant energy burns during non-invasive surgery has announced its results for fiscal Q3 2022 ending December 31, 2021.

Market Stats

On Thursday, ECIA stock ended flat at $1.40 with 825 shares, compared to its average volume of 2.5K shares. The stock moved within a range of $1.4000 – 1.4000 after opening trading at $1.40.

Earnings Recap

The company posted $1.94 million in net revenue and a net loss of $16,000 or $0.00 per share. A year ago, the company reported $2.16 million in net revenue and net income of approximately $599,000 or $0.05 per share. In addition, the net income in fiscal Q3 2021 included a debt extinguishment income of $0.599 million.

For the nine months ending December 31, 2021, the company reported net revenue of around $6.07 million and a net income of $0.337 million or $0.03 per share. The net income also included debt extinguishment income. CEO Gregory Trudel said that the pandemic reduced surgical procedures, which impacted revenue during the period. Interestingly, marketing and sales efforts are bringing new customers to EnTouch 2X scissors. So in the coming weeks, investors should watch ECIA.

Key Quote

“Total revenue, which included service revenue, decreased 10% from our third quarter revenue of last year,” said Gregory Trudel, President and CEO of Encision Inc. “COVID reduced total surgical procedures and our revenues suffered as a result. We continue to be positive as we assess and navigate the ups and downs of the pandemic market and continuously look for opportunities to serve our customers and to drive adoption. Our sales and marketing efforts are yielding new customers for our EnTouchâ 2X Scissors and we look forward to their contributions as the market bounces back.”

Traders Corner

ECIA stock is trading above the 20-Day and 50-Day Moving averages of $1.40 and $1.12 respectively. However, the stock is trading below the 200-Day moving average of $1.41.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.