Revenue during the quarter surged 34.14 percent to $0.33 million from $0.24 million in the previous year period. Gross margin for the quarter contracted 71 basis points over the previous year period to 88.48 percent.

Operating loss for the quarter was $0.32 million, compared with an operating loss of $0.51 million in the previous year period.

"Vycors results for the third quarter of 2016 continue to demonstrate the realization of Vycors strategy to grow our two businesses while maintaining our low cost base, with the objective of continuing to decrease our Cash Operating Loss2, which reduced to $176,000 for the third quarter compared to $341,000 for the same period in 2015; and to $505,000 for the nine months to September 2016 compared to $1,110,000 in 2015," said Peter Zachariou, chief executive officer of Vycor Medical.