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BRIEF-Velan Inc reports first quarter financial results

Published 2017-07-13, 01:57 p/m
© Reuters.  BRIEF-Velan Inc reports first quarter financial results

July 13 (Reuters) - Velan Inc VLN.TO :

* Velan Inc Reports its first quarter 2017/18 financial results

* Says Q1 loss per share $0.20

* Says sales of US$71.1 million for quarter

* Says order backlog of US$456.6 million at end of quarter, of which US$168.1 million is scheduled for delivery beyond next 12 months

* Says Qtrly bookings amounted to $72.2 million, a decrease of $37.8 million or 34.4% compared to last year

* Says qtrly bookings amounted to $72.2 million, a decrease of $37.8 million or 34.4% compared to last year

* Says "responding to tough market conditions with three-year plan to drive out $20 million of annual costs" Source text for Eikon: ID:nCCN3NgHva Further company coverage: VLN.TO

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