March 11, 2013
Sunshine Heart (NASDAQ: SSH ) has reported that it narrowed its operating expenses and net loss for its most recent quarter. The company didn't post sales in 2012 and 2011. Operating expenses for Q4 were $4.11 million, down considerably from the $5.37 million of Q4 2011. Net loss was close to those figures, at $4.07 million ($0.44 per diluted share) from the $5.24 million ($0.87) in the same quarter the previous year.
For the full year, operating expenses totaled $14.87 million, down from the 2011 figure of $16.56 million. Net loss broadly tracked those figures, at $14.07 million ($1.98 per diluted share) and $16.20 million ($2.98), respectively.
Going forward, the medical-device company quoted its CEO Dave Rosa as saying that 2013 "will be focused on site initiations, enrollments, and European patient data, but we have many other exciting initiatives as well and look forward to reporting progress in each of these areas throughout the year."
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