Medical device firm posts wider loss

Medical device maker Biosphere Medical Inc., of Rockland, posted a wider fourth-quarter loss after changing its accounting standards to include stock-option expenses.

The company lost $334,000, or 2 cents per share, compared with a loss of $272,000, or 2 cents per share, in the same period a year prior. The company had 17.4 million shares outstanding in the latest quarter, versus 14.8 million in the year-earlier period.

Revenue rose 23 percent to $6.3 million, from $5.2 million.

Analysts polled by Thomson Financial expected a loss of 4 cents per share on revenue of $6.5 million.

Total costs and expenses rose 25 percent to $6.8 million, from $5.4 million, the company said, because of the inclusion of stock-option expenses.

For the full year, the company lost $2.8 million, or 17 cents per share, versus a loss of $3.3 million, or 22 cents per share, in 2005. Revenue climbed to $22.9 million from $18.5 million.
(AP)