Covalon Technologies (OTCMKTS:CVALF) Issues Earnings Results, Beats Estimates By $0.06 EPS

Covalon Technologies (OTCMKTS:CVALF) posted its quarterly earnings data on Friday. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06, Zacks reports. The firm had revenue of $5.84 million for the quarter, compared to analysts’ expectations of $6.37 million. Covalon Technologies had a net margin of 8.58% and a return on equity of 12.33%.

Covalon Technologies Trading Down 14.2 %

OTCMKTS:CVALF opened at $1.93 on Friday. The business’s fifty day moving average price is $2.22 and its 200 day moving average price is $2.33. The firm has a market capitalization of $52.88 million, a price-to-earnings ratio of 27.58 and a beta of -0.29. Covalon Technologies has a 1-year low of $0.74 and a 1-year high of $3.08.

About Covalon Technologies

Covalon Technologies Ltd. engages in the research, development, manufacturing, and marketing of medical products in infection management, advanced wound care, and surgical procedure areas in the United States, Canada, the Middle East, Asia, Latin America, and internationally. The company’s platform technologies comprise collagen matrix platform that is used to manufacture a family of products to treat chronic and infected wounds, including diabetic ulcers, pressure ulcers, venous ulcers, donor and graft sites, traumatic wounds healing by secondary intention, dehisced surgical wounds, and first and second degree burns; and antimicrobial silicone adhesive platform, which is used for family of pre and post-surgical, and vascular access products that are designed to kill bacteria or yeast that comes into contact with the antimicrobial silicone providing broad-spectrum antimicrobial activity.