Encision posts flat earnings per share as net income falls year-over-year

BOULDER — Encision Inc. (OTC: ECIA), a medical device company, posted second-quarter  net income of $12,000, a significant drop from the same period last year, when net income was $116,000. Net earnings per share stayed essentially flat — zero cents per share in Q2 2018 from one cent per share for Q2 2017.

Encision grew its second-quarter revenue 1.9 percent year-over-year to $2.2 million.

The company makes products that prevent stray electrosurgical burns in minimally invasive surgeries.

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“The increase of sales and marketing expense reflects the costs of increased direct sales representation, higher commissions on higher revenue and higher commission rates on exceeded quotas,” Greg Trudel, CEO and president, said in a prepared statement. Encision’s sales and marketing expenses grew from $574,000 in Q2 2017 to $656,000 in Q2 2018.

“The investment to fortify our sales channel with direct sales representation to fill strategic gaps and supplant underperforming distribution relationships is showing promising results, and we look forward to developing that strata further,” he said. “Our sales team continues to deliver new account conversions, and we are excited over the growing pipeline and sales momentum.”