Biosphere Medical widens net losses, increases revenues in Q1

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BioSphere Medical, a medical device company, has reported a net loss for the 2008 first quarter of $1.54 million, compared to a net loss of $1.17 million in same quarter of 2007.

The company reported that total revenue for the quarter increased 10 percent to $7.21 million from total revenue of $6.58 million for the first quarter of 2007. In the first quarter of 2008, revenue in the United States was $5.06 million, an increase of 10 percent compared to revenue of $4.6 million in the first quarter of 2007. Biosphere noted that revenue in Europe, Mid-East and Africa rose 2 percent to $1.78 million for the first quarter of 2008 from $1.76 million for the same period in 2007.

The loss from operations for the latest quarter was $1.35 million, wider than $1.26 million in last year quarter, according to the Rockland, Mass.-based company.