Criticare narrows loss, but sales drop after partner is bought

Criticare narrows loss, but sales drop after partner is bought

Milwaukee — Criticare Systems Inc., which makes clinical patient monitors and sensors, reported a net loss of $245,000 for the quarter that ended March 31, on sales of $6 million.
Sales were down from nearly $6.6 million in the same quarter of 2004, but operating expenses were also down, and the firm’s net loss came down from $412,000 in that quarter. Its reported cash balance held steady at about $3.7 million.
Criticare (AMEX:CMD) said that several things affected performance this quarter:
• Alaris Medical, a longtime OEM partner, sold less after its acquisition by Cardinal Health.
• Criticare hired a sales executive from an unnamed competitor to create an in-house sales team for the market served by Alaris, which will turn over its customer base.
• Three oral surgery sales conferences last year were disrupted by the hurricanes that hit the southeast United States.
• The net loss reported this quarter included $200,000 that went toward the company’s reserve for obsolete inventory.