Pyng Medical Corp. (TSX VENTURE:PYT) today released its audited fiscal 2009 results for the year ended September 30, 2009. Pyng reported fourth quarter sales were $1,718,272 and total annual sales of $6,026,177. Net loss before tax for the year was $62,904 and after tax was $246,904.
Cost of sales for the fourth quarter of 2009 was $416,034 providing a gross margin of $1,302,238 or 76%. On a year to date basis, cost of sales was $1,685,547 providing a gross margin of $4,340,630 or 72%. Total cash operating expenses for the forth quarter of 2009 increased to $1,056,369 compared to $912,167 for the fourth quarter of fiscal 2008. On a year to date basis, total cash operating expenses for fiscal 2009 increased to $3,959,236 compared to $3,265,879 for fiscal 2008.