Covalon Technologies (OTCMKTS:CVALF) Announces Earnings Results, Beats Estimates By $0.05 EPS

Covalon Technologies (OTCMKTS:CVALF) released its quarterly earnings data on Thursday. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05, Zacks reports. The firm had revenue of $6.24 million for the quarter, compared to analyst estimates of $10.49 million. Covalon Technologies had a net margin of 7.00% and a return on equity of 7.77%.

Covalon Technologies Stock Down 8.4%

Shares of CVALF stock traded down $0.12 during mid-day trading on Friday, reaching $1.29. The stock had a trading volume of 59,191 shares, compared to its average volume of 3,246. Covalon Technologies has a one year low of $1.29 and a one year high of $2.53. The firm has a market cap of $35.63 million, a PE ratio of 25.81 and a beta of 0.43. The firm’s 50 day simple moving average is $1.45 and its 200 day simple moving average is $1.66.

Covalon Technologies Company Profile

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.