Covalon Technologies (OTCMKTS:CVALF) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Covalon Technologies (OTCMKTS:CVALF - Get Free Report) issued its quarterly earnings data on Friday. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.06, Zacks reports. Covalon Technologies had a return on equity of 12.33% and a net margin of 8.58%. The business had revenue of $5.84 million for the quarter, compared to analyst estimates of $6.37 million.

Covalon Technologies Stock Down 6.3 %

CVALF stock traded down $0.13 during midday trading on Tuesday, hitting $1.86. 2,033 shares of the company traded hands, compared to its average volume of 23,698. Covalon Technologies has a twelve month low of $0.74 and a twelve month high of $3.08. The stock has a market capitalization of $51.11 million, a price-to-earnings ratio of 26.63 and a beta of -0.29. The business has a 50 day simple moving average of $2.21 and a 200-day simple moving average of $2.33.

Covalon Technologies Company Profile

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.