Covalon Technologies (OTCMKTS:CVALF) Issues Quarterly Earnings Results, Hits Expectations

Covalon Technologies (OTCMKTS:CVALF - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01, Zacks reports. The firm had revenue of $5.27 million during the quarter, compared to the consensus estimate of $7.67 million. Covalon Technologies had a return on equity of 12.33% and a net margin of 8.58%.

Covalon Technologies Price Performance

Shares of OTCMKTS CVALF traded down $0.05 during mid-day trading on Friday, hitting $1.77. The company had a trading volume of 7,710 shares, compared to its average volume of 15,789. The stock has a market cap of $48.45 million, a price-to-earnings ratio of 25.25 and a beta of 0.49. Covalon Technologies has a 12 month low of $0.93 and a 12 month high of $3.08. The firm's 50 day simple moving average is $1.74 and its two-hundred day simple moving average is $2.05.

About Covalon Technologies

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.