Velan Inc. reported earnings results for the second quarter and six months ended August 31, 2023. For the second quarter, the company reported sales was USD 80.32 million compared to USD 85.05 million a year ago. Net loss was USD 2.12 million compared to USD 3.68 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.17 a year ago. Diluted loss per share from continuing operations was USD 0.1 compared to USD 0.17 a year ago.
For the six months, sales was USD 147.98 million compared to USD 160.06 million a year ago. Net loss was USD 10.4 million compared to USD 11.03 million a year ago. Basic loss per share from continuing operations was USD 0.48 compared to USD 0.51 a year ago. Diluted loss per share from continuing operations was USD 0.48 compared to USD 0.51 a year ago.