Trimedyne Inc. – TMED Reports Good Numbers
TRIMEDYNE, INC. (OTC BB:TMED.OB – News) today reported a profit of $166,000 for the quarter ended December 31, 2006, almost twelve times the profit of $14,000 for the same quarter of the prior year. The fourth calendar quarter of 2006 is the first quarter of Trimedyne’s current fiscal year and represents Trimedyne’s 6th consecutive profitable quarter.
Mr. Yeik added, "We expect to see a significant increase in revenues and profits when Boston Scientific Corporation and Lumenis begin marketing Trimedyne’s new side firing laser fiber as an accessory to Lumenis’ Holmium lasers for the treatment of benign prostate hyperplasia or ‘BPH,’ commonly called an enlarged prostate. BPH affects about 50% of men over age 55 and a higher percentage at older ages. The worldwide market for treating BPH is estimated to exceed $700 million per year."
Shipments of the new fiber to Boston Scientific and Lumenis are expected to commence when Boston Scientific and Lumenis complete their review of Trimedyne’s manufacturing and quality processes and their testing of the new fiber, which is presently anticipated to occur late in the second calendar quarter of 2007.
TMED is a yearly portfolio holdings.
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