After Profitable 6 Months, I-Flow Expects to Post Loss
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IRVINE — I-Flow Corp., which posted a profitable quarter and first six months, said Thursday that it expects a third-quarter loss because of a write-off and expenses totaling $5.6 million.
The developer of ambulatory infusion systems said that it will write off $5 million for research and development costs and will incur $600,000 in additional expenses related to its acquisition last month of Block Medical operations.
I-Flow also reported net income of $551,000, or 5 cents a share, for the second quarter, up from the $176,000, or 2 cents a share, for last year’s second quarter. Quarterly revenue was unchanged at $2.4 million.
Net income for the first six months was $1.1 million, or 10 cents a share, compared with $237,000, or 3 cents a share, for last year’s first half. Revenue for the period was flat at $4.5 million.
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