Encision reports financial results for third-quarter of fiscal year 2010

Encision Inc. (OTC Bulletin Board: ECIA), a medical device company owning patented surgical technology that is emerging as a standard of care in minimally-invasive surgery, reported its financial results for its third quarter of fiscal year 2010.

Net sales for the three months ended December 31, 2009 and December 31, 2008 totaled $3.3 million. The Company recorded net income of $149 thousand, or $.02 per share, for the third quarter of fiscal year 2010, compared to a net income of $233 thousand, or $.04 per share, for the third quarter of fiscal year 2009. Gross profit margin for the third quarter of fiscal year 2010 was 61.6%, as compared to 63.6% for the third quarter of fiscal year 2009. The lower gross profit margin for the third quarter of fiscal year 2010 was due to increased sales of lower gross profit margin products.

Net sales for the first nine months ended December 31, 2009 totaled $9.65 million, representing a 1% decrease over net sales of $9.71 million for the prior fiscal year's first nine months. The Company recorded net income of $359 thousand, or $.06 per share, for the first nine months of fiscal year 2010, compared to net income of $144 thousand, or $.02 per share, for the first nine months of fiscal year 2009. Gross profit margin for the first nine months of fiscal year 2010 and fiscal year 2009 was 62%.