For the nine month period ended March 31, 2009 (9 months FY 2009), total revenue was $338,484, compared to $395,278 for the nine month period ended March 31, 2008 (9 months FY 2008), a 14.4% decrease. For the 9 months FY 2009, the Company incurred a net loss of $88,549, including a non-cash benefit of $233,977, or $.00 per share, compared with a net loss of $639,585, including a non-cash charge of $210,890, or $(.02) per share (9 months FY 2008).
We hope that the current quarter represents a bottoming out of sales and the severe economic environment will soon return to normal patterns of sales activity. The financial market turmoil has had a devastating impact on the ability of our prospective customers to obtain financing for the type of large capital equipment purchase that a sale of the CVProfilor DO-2020 represents, said Mark Schwartz, Chairman and CEO. We are cautiously optimistic about the opportunity in the international markets, where prevention of cardiovascular disease is becoming standard of care. The Company has been working with new international distributors in the European and Asian markets to compete in the emerging vascular screening market where we believe our products have a compelling clinical advantage over our competitors.
