Solos Endoscopy, a provider of endoscopy devices, has reported revenues of $345,146 for the nine months ended 30 September 2010, an increase of 10.9%, compared to $311,089 in the same period of 2009.
Solos Endoscopy said revenues for the third quarter was driven by sales from the MammoView line as well as strong sales from its standard product line with increased orders for the company’s Vascular Clamp System.
For the three months ended 30 September 2010, Solos reported revenues of $134,426, an increase of 34.8% compared to $99,710 for the three months ended 30 September 2009.
Solos Endoscopy inventories increased by $80,559 during the nine months ended 30 September 2010 and reported total assets of $2,408,829.
The increase in inventories was attributed to inventory purchases made in the second and third quarter from European vendors when the dollar increased in value against the Euro.
Solos Endoscopy president Bob Segersten said for the first nine months of 2010, they have delivered double-digit revenue growth in what continues to be a challenging economic environment.
Solos has completed a capital restructuring initiative as part of a previously announced recapitalization plan in order to position itself for growth over the next one year.