{"id":384809,"date":"2020-11-19T07:03:38","date_gmt":"2020-11-19T12:03:38","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=384809"},"modified":"2020-11-19T07:03:38","modified_gmt":"2020-11-19T12:03:38","slug":"opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\/","title":{"rendered":"OpSens Announces Fourth Quarter and Fiscal Year 2020 Financial Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">QUEBEC CITY<\/span>, <span class=\"xn-chron\">Nov. 19, 2020<\/span> \/CNW\/ &#8211; <b>OpSens Inc. (&#8220;OpSens&#8221;\u00a0or the &#8220;Company&#8221;) <\/b>(TSX: OPS)\u00a0(OTCQX: OPSSF)\u00a0today reported its results for the fourth quarter and fiscal year 2020 ended <span class=\"xn-chron\">August 31, 2020<\/span>.<\/p>\n<p>\n        <b>Financial Highlights<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Sales of product at <span class=\"xn-money\">$29.5 million<\/span> in FY 2020 compared to prior FY 2019; <\/li>\n<li>Delivered Q4 2020 a <span class=\"xn-money\">$2.2 million<\/span> improvement in profitability compared with Q4 2019; <\/li>\n<li>The Company ended fourth quarter with a cash balance of <span class=\"xn-money\">$10.9 million<\/span> compared to <span class=\"xn-money\">$10.0 million<\/span> as of <span class=\"xn-chron\">May 31, 2020<\/span>.<\/li>\n<\/ul>\n<p>\n        <b>Recent Developments<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Awarded 3-year contract with major American group purchasing organization (&#8220;GPO&#8221;) to provide access to the OptoWire to their members across <span class=\"xn-location\">the United States<\/span>; <\/li>\n<li>Progress in the development of a guidewire for transcatheter aortic valve replacement (TAVI or TAVR) procedures.<\/li>\n<\/ul>\n<p>\n        <b>Management Commentary<\/b>\n      <\/p>\n<p>&#8220;I am pleased with the way the company is successfully navigating the COVID-19 pandemic,&#8221; said <span class=\"xn-person\">Louis Laflamme<\/span>, President and CEO of OpSens. &#8220;Despite the temporary closure of several cardiology laboratories, we continued to \u00a0achieve progress\u00a0 in our commercial activities, including the signing of our first GPO contract to further increase our U.S. coronary artery stenosis measurement business.&#8221;<\/p>\n<p>&#8220;As we look ahead to fiscal 2021, we are cautiously optimistic about continued improvement in access to our commercial customers as hospital protocols for managing the pandemic are being implemented. In addition to continued traction in our currently commercialized products, we are accelerating the development of our new guidewire for TAVR procedures, a <span class=\"xn-money\">$4 billion<\/span> global market\u00a0 which is growing in excess of 40% per year.&#8221;<\/p>\n<p>&#8220;Our continued progress over the past few years to create, manufacture and deliver world-class products, that contribute to health through our expertise in innovative medical products was highlighted during the last quarter. I congratulate the OpSens team for their determination to provide customers with continued access to our technology under these unusual circumstances,&#8221; concluded Mr. Laflamme.\u00a0<\/p>\n<p>\n        <b>Financial Results &#8211; Year Ended <span class=\"xn-chron\">August 31, 2020<\/span><\/b>\n      <\/p>\n<p>Sales of product were stable at <span class=\"xn-money\">$29.5 million<\/span> in fiscal 2020 compared with fiscal 2019.<\/p>\n<p>Sales of products for the measurement of coronary artery stenosis (Fractional Flow Reserve (&#8220;FFR&#8221;) and diastolic pressure ratio (&#8220;dPR&#8221;)) were <span class=\"xn-money\">$18.7 million<\/span> in FY 2020 compared with <span class=\"xn-money\">$20.0 million<\/span> in FY 2019. The <span class=\"xn-money\">$1.3 million<\/span> decrease in OptoWire sales was primarily related to the temporary closure of several cardiology laboratories brought on by COVID-19.<\/p>\n<p>Sales of optical medical systems, including the Company&#8217;s partnership for ventricular assist device sensors, were <span class=\"xn-money\">$8.3 million<\/span> in FY 2020 compared with <span class=\"xn-money\">$7.0 million<\/span> in FY 2019.<\/p>\n<p>Operating expenses in fiscal 2020 were <span class=\"xn-money\">$19.3 million<\/span> compared with <span class=\"xn-money\">$20.5 million<\/span> in fiscal 2019. The improvement in operating expenses is attributable to savings on sales and marketing expenses offset by continued investment in research and development.<\/p>\n<p>Net loss was <span class=\"xn-money\">$2.6 million<\/span> during fiscal 2020 compared with a net loss of <span class=\"xn-money\">$2.0 million<\/span> in fiscal 2019. This variation is mainly explained by a decrease of <span class=\"xn-money\">$3.3 million<\/span> in non-recurring licensing revenue offset by a decrease in sales and marketing expenses and by a grant of <span class=\"xn-money\">$1.7 M<\/span> from the Canadian government.<\/p>\n<p>EBITDAO<sup>1<\/sup> (see table B) was <span class=\"xn-money\">$0.1 million<\/span> in fiscal 2020 compared with <span class=\"xn-money\">$(0.4) million<\/span> in fiscal 2019.<\/p>\n<p>OpSens had a cash position of <span class=\"xn-money\">$10.9 million<\/span> as of <span class=\"xn-chron\">August 31, 2020<\/span>.<\/p>\n<p>\n        <b>Financial Results &#8211; Three-Month Period Ended <span class=\"xn-chron\">August 31, 2020<\/span><\/b>\n      <\/p>\n<p>Total revenue was <span class=\"xn-money\">$7.6 million<\/span> in the fourth quarter of 2020 compared with <span class=\"xn-money\">$7.9 million<\/span> in the fourth quarter of 2019.<\/p>\n<p>Sales of products for the measurement of coronary artery stenosis (FFR and dPR) were <span class=\"xn-money\">$4.8 million<\/span> in Q4 2020 compared with <span class=\"xn-money\">$5.3 million<\/span> in Q4 2019. The <span class=\"xn-money\">$0.5 million<\/span> decrease in OptoWire sales was primarily related to the temporary closure of several cardiology laboratories brought on by COVID-19.<\/p>\n<p>Sales of optical medical systems including the Company&#8217;s partnership for ventricular assist device sensors were <span class=\"xn-money\">$2.2 million<\/span> in Q4 2020 compared with <span class=\"xn-money\">$1.8 million<\/span> in Q4 2019.<\/p>\n<p>Operating expenses in the fourth quarter of 2020 were <span class=\"xn-money\">$3.8 million<\/span> compared with <span class=\"xn-money\">$5.5 million<\/span> in the fourth quarter of 2019. The improvement in operating expenses is attributable to savings on sales and marketing expenses.<\/p>\n<p>Net income was <span class=\"xn-money\">$0.6 million<\/span> during the fourth quarter of 2020 compared with a net loss of <span class=\"xn-money\">$1.6 million<\/span> in the fourth quarter of 2019. The <span class=\"xn-money\">$2.2 million<\/span> improvement in net earnings is the result of a reduction in sales and marketing expenses and the recognition of a grant of <span class=\"xn-money\">$0.9 M<\/span> from the Canadian government.<\/p>\n<p>EBITDAO<sup>1<\/sup> \u00a0(see table B) was <span class=\"xn-money\">$1.4 million<\/span> in the fourth quarter of 2020 compared with <span class=\"xn-money\">$(1.1) million<\/span> in the fourth quarter of 2019.<\/p>\n<p>Table A<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td rowspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Consolidated statement of results<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of Canadian dollars, except for information per share)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the year ended <br \/>August 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the year ended <br \/>August 31, 2019*<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntac prnpl6 prnsbl1 prnpr14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnrbrs prnvab prnsbbs prntac prnpl6 prnsbls prnpr14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Medical<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>26,996<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,032<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Industrial<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,457<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,418<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>29,453<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,450<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Licensing<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>&#8211;<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,302<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>29,453<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,752<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of Sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13,834<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,037<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross margin<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15,619<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,715<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross margin (%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>53%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Operating Expenses<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Administration <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,041<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,593<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Sales and marketing <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>8,780<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,116<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 R&amp;D <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,441<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,801<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>19,262<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,510<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(1,683)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Financial expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>684<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">157<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss and comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(2,644)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,952)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss per share \u2013 Basic and diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.03)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable7893\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Comparative figures have not been adjusted to reflect the adoption of IFRS 16 \u2013 Leases as set out in the accounting policy<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>Table B<\/p>\n<p>Reconciliation of net earnings (loss) to EBITDAO<\/p>\n<p>The Earnings Before Interest, Taxes, Depreciation, Amortisation and Stock-based compensation costs (EBITDAO) has no normalized sense prescribed by IFRS. It is not very probable that this measure is comparable with measures of the same type presented by other issuers. EBITDAO is defined by the Company as the addition of net loss, financial expenses (income), depreciation and amortisation and stock-based compensation costs. The Company uses EBITDAO for the purposes of evaluating its historical and prospective financial performance. This measure also helps the Company to plan and forecast for future periods as well as to make operational and strategic decisions. The Company believes that providing this information to investors, in addition to IFRS measures, allows them to see the Company&#8217;s results through the eyes of management, and to better understand its historical and future financial performance.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td rowspan=\"2\" class=\"prnsbts prnrbrs prnvab prnsbbs prnpl6 prnsbls prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Reconciliation of consolidated Net loss to EBITDAO <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the year ended<br \/>August 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the year ended <br \/>August 31, 2019*<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n              \n            <\/td>\n<td class=\"prngen18\">\n              \n            <\/td>\n<td class=\"prngen18\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(2,644)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,952)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Financial expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>684<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">157<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation of PP&amp;E and right-of-use-assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,548<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">802<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of intangible assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>120<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">91<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Stock-based compensation cost<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>438<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">489<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDAO<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>146<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(413)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td rowspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Reconciliation of consolidated Net Earnings (loss) to EBITDAO <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the quarter ended<br \/>August 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the quarter ended<br \/>August 31, 2019*<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntac prnpl6 prnsbl1 prnpr8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnrbrs prnvab prnsbbs prntac prnpl6 prnsbls prnpr8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net earnings (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>558<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,618)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Financial expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>356<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">160<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation of PP&amp;E and right-of-use-assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>386<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">205<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of intangible assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Stock-based compensation cost<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>78<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">121<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDAO<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,402<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,107)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable7dec\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Comparative figures have not been adjusted to reflect the adoption of IFRS 16 \u2013 Leases as set out in the accounting policy<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Table C<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td rowspan=\"3\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CONSOLIDATED BALANCE SHEET HIGHLIGHTS<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in thousands of Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As at <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>As at <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>August 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>August 31,<\/b><br \/>\n                  <b>\u00a02019*<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>10,884<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,856<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Trade and other receivables <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,041<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,115<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inventories<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6,505<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,133<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total Current Assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>22,543<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,099<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Property, plant, and equipment <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,230<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,962<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Intangible assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,622<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,027<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Right-of-use assets <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,513<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total Assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>31,908<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30,088<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<td class=\"prngen11\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5,655<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,787<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Long-term debt <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6,608<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,135<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lease liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,298<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total Liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>16,561<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,648<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Shareholders&#8217; equity <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>15,347<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,441<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable1c1c\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">*Comparative figures have not been adjusted to reflect the adoption of IFRS 16 \u2013 Leases as set out in the accounting policy<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>About OpSens Inc. (<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2987555-1&amp;h=557142859&amp;u=http%3A%2F%2Fwww.opsens.com%2F&amp;a=www.OpSens.com\" rel=\"nofollow noopener noreferrer\">www.OpSens.com<\/a> or <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2987555-1&amp;h=499842213&amp;u=http%3A%2F%2Fwww.opsensmedical.com%2F&amp;a=www.OpSensmedical.com\" rel=\"nofollow noopener noreferrer\">www.OpSensmedical.com<\/a>)<\/b>\n      <\/p>\n<p>OpSens focuses mainly on coronary physiology products in interventional cardiology. OpSens offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access. The OptoWire has been used in the diagnosis and treatment of over 100,000 patients in more than 30 countries. It is approved for sale in <span class=\"xn-location\">the United States<\/span>, European Union, <span class=\"xn-location\">Japan<\/span>, and <span class=\"xn-location\">Canada<\/span>. <\/p>\n<p>OpSens is also involved in industrial activities in developing, manufacturing, and installing innovative fiber optic sensing solutions for critical applications.<\/p>\n<p>\n        <i>Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, and achievements of OpSens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.<\/i>\n      <\/p>\n<p>\n        <i>Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.<\/i>\n      <\/p>\n<div>\n<table id=\"convertedTablee84d\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">________________________<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1\u00a0<\/sup>This non-IFRS measure is presented for additional information and should be used in conjunction with the IFRS financial measures presented. Definition of non-IFRS measures is explained at table B to provide the reader with a better understanding of the metrics used by management. Comparative figures have not been restated to reflect the adoption of IFRS 16 &#8211; Leases, as set out in the accounting policy.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>SOURCE  OPSENS Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C8479&amp;Transmission_Id=202011190700CANADANWWEB______C8479&amp;DateId=20201119\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire QUEBEC CITY, Nov. 19, 2020 \/CNW\/ &#8211; OpSens Inc. (&#8220;OpSens&#8221;\u00a0or the &#8220;Company&#8221;) (TSX: OPS)\u00a0(OTCQX: OPSSF)\u00a0today reported its results for the fourth quarter and fiscal year 2020 ended August 31, 2020. Financial Highlights Sales of product at $29.5 million in FY 2020 compared to prior FY 2019; Delivered Q4 2020 a $2.2 million improvement in profitability compared with Q4 2019; The Company ended fourth quarter with a cash balance of $10.9 million compared to $10.0 million as of May 31, 2020. Recent Developments Awarded 3-year contract with major American group purchasing organization (&#8220;GPO&#8221;) to provide access to the OptoWire to their members across the United States; Progress in the development of a guidewire for transcatheter aortic valve replacement (TAVI &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;OpSens Announces Fourth Quarter and Fiscal Year 2020 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-384809","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OpSens Announces Fourth Quarter and Fiscal Year 2020 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OpSens Announces Fourth Quarter and Fiscal Year 2020 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire QUEBEC CITY, Nov. 19, 2020 \/CNW\/ &#8211; OpSens Inc. (&#8220;OpSens&#8221;\u00a0or the &#8220;Company&#8221;) (TSX: OPS)\u00a0(OTCQX: OPSSF)\u00a0today reported its results for the fourth quarter and fiscal year 2020 ended August 31, 2020. Financial Highlights Sales of product at $29.5 million in FY 2020 compared to prior FY 2019; Delivered Q4 2020 a $2.2 million improvement in profitability compared with Q4 2019; The Company ended fourth quarter with a cash balance of $10.9 million compared to $10.0 million as of May 31, 2020. Recent Developments Awarded 3-year contract with major American group purchasing organization (&#8220;GPO&#8221;) to provide access to the OptoWire to their members across the United States; Progress in the development of a guidewire for transcatheter aortic valve replacement (TAVI &hellip; Continue reading &quot;OpSens Announces Fourth Quarter and Fiscal Year 2020 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-19T12:03:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C8479&amp;Transmission_Id=202011190700CANADANWWEB______C8479&amp;DateId=20201119\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"OpSens Announces Fourth Quarter and Fiscal Year 2020 Financial Results\",\"datePublished\":\"2020-11-19T12:03:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\\\/\"},\"wordCount\":1339,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C8479&amp;Transmission_Id=202011190700CANADANWWEB______C8479&amp;DateId=20201119\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/opsens-announces-fourth-quarter-and-fiscal-year-2020-financial-results\\\/\",\"name\":\"OpSens Announces Fourth Quarter and Fiscal Year 2020 Financial Results - 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