Sunshine Heart, Inc. (SSH) saw its loss narrow to $2.90 million, or $4.64 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $6.60 million, or $10.81 a share.
Revenue during the quarter surged 1,164.41 percent to $0.75 million from $0.06 million in the previous year period.
Operating loss for the quarter was $3.06 million, compared with an operating loss of $6.35 million in the previous year period.
"Our focus remains on serving the large number of heart failure patients in the U.S. with fluid overload who could benefit from our Aquadex therapy" said John Erb, chairman and chief executive officer. "We are confident that our strategies will drive sustained growth."
Operating cash flow remains negative
Sunshine Heart, Inc. has spent $16.29 million cash to meet operating activities during the year as against cash outgo of $22.99 million in the last year.
The company has spent $4.12 million cash to meet investing activities during the year as against cash outgo of $0.20 million in the last year.
The company has spent $1.36 million cash to carry out financing activities during the year as against cash inflow of $15.06 million in the last year period.
Cash and cash equivalents stood at $1.32 million as on Dec. 31, 2016, down 94.28 percent or $21.79 million from $23.11 million on Dec. 31, 2015.
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