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

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

Covalon Technologies Stock Down 2.9%

OTCMKTS:CVALF traded down $0.05 during trading hours on Friday, hitting $1.77. 7,710 shares of the company traded hands, compared to its average volume of 15,789. The company has a market cap of $48.45 million, a PE ratio of 25.25 and a beta of 0.49. The firm's 50-day simple moving average is $1.75 and its 200-day simple moving average is $2.04. Covalon Technologies has a one year low of $0.93 and a one year high of $3.08.

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.