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SpineGuard releases 6-month financial report

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SpineGuard, a company that develops and markets disposable medical devices, recently released its 6-month financial report for 2015 and reported a 41% increase in sales during the first half of 2014.

The reports released by SpineGuard showed nearly a €3 million increase in sales for the first half of 2015, reducing the company’s net loss to nearly €2.2 million. The reports detailed the company’s financials for the half year ending June 30, 2015.

SpineGuard saw its U.S. revenue increase by 52% in the first half of 2015. In the rest of the world, the company’s revenue increased by 14% during the first half of 2015 to €696,000 compared with €610,000 in the first half of 2014, according to data in the financial reports.

PediGuard sales are up so far in 2015, with 3,716 units sold in the first half of the year compared with 3,008 units sold in the first half of 2014.

The company’s gross margin of 86.1% at June 30, 2015 showed an improvement of 50 bps compared with the prior year of 85.6%.

Reference: www.spineguard.com.