Novadaq widens Q3 loss

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Medical imaging firm Novadaq Technologies reported increased losses for its fiscal 2007 third quarter (end-Sept. 30).

The Toronto-area company, which reports in U.S. dollars, posted a third-quarter net loss of $4.1 million compared with a year-ago loss of $2.7 million in the same quarter.

Novadaq attributes the jump in sales to the company's acquisition of Edwards Lifesciences’ distribution rights to PLC Medical Systems’ heart laser system for transmyocardial revascularization in the United States.

The company said its earnings were impacted by increases in sales and marketing costs, as well as an increase in general and administrative expenses and research and development costs.