CAS Medical Systems Q3 net loss decreases

CAS Medical Systems, Inc. has reported that net loss applicable to common stockholders for the third quarter ended September 30, 2012 was $1.85 million, or $0.14 loss per share, compared to a net loss applicable to common stockholders of $2.14 million, or $0.16 loss per share, for the same quarter ended September 30, 2011.

Net sales for the third quarter of 2012 were $6.11 million, compared to $5.78 million for the same quarter of 2011.

Net loss applicable to common stockholders for the nine months ended September 30, 2012 was $5.99 million, or $0.45 loss per share, compared to a net loss applicable to common stockholders of $4.76 million, or $0.36 loss per share, for the same period ended September 30, 2011.

Net sales for the nine months ended September 30, 2012 were $16.72 million, compared to $17.15 million for the same period ended September 30, 2011.

"Our focus on driving FORE-SIGHT sales is being rewarded with consistently positive results" said Thomas Patton, president and CEO of CASMED. "Growth in FORE-SIGHT sales this past quarter reflects the steps we have taken to employ dedicated sales representatives along with a network of quality distributors. Our expanded worldwide installed base together with a healthy utilization of our technology by our clinical customers is driving significant increases in sensor sales. CASMED continues to reinforce the message to the medical community of the importance of FORE-SIGHT and the problem of oxygen desaturation events during surgical procedures, and our message is starting to resonate. We continue to be comfortable that our installed base of FORE-SIGHT monitors will reach 750 by the end of the year."