Ergoresearch, headquartered in Montreal, Canada, has announced that sales for the quarter ended March 31, 2011, increased by 13.9 percent to $1,804,194 compared to $1,583,835 for the same period in 2010. Net income and comprehensive income increased and amounted to $78,544 compared to $75,542 for the same period last year. The company faced non-recurring expenses related to the cancellation of its previous lease and expenses related to moving its headquarters and facilities. Net income before tax decreased 5.6 percent compared for the same quarter last year. Ergoresearch’s net profit for the quarter ended March 31, 2011, was $78,544 compared to $75,542 for the same period last year.
According to a company press release, in line with its new strategic orientation, Ergoresearch joined forced with Orthoconcept (headquartered in Laval, Canada) and Clinique du Pied Équilibre (founded in Sillery, Canada) in the recently opened Complexe Ergo, in Laval, which houses Canada’s first living laboratory for the treatment of osteoarthritis of the knee. The company is also pursuing research and development activities.
“We are in the acquisition mode across Canada,” Sylvain Boucher, president of Ergoresearch, said. “Our R&D department took off and will soon be introducing technologies and products that will revolutionize the treatment of osteoarthritis of the knee, amongst others. This is very exciting for our team and for our partners, and is just the beginning of a process that will quickly position us at the forefront of the North American orthopedic industry.”
Editor’s note: All currency is in Canadian dollars.
