August 9, 2011 / 10:28 AM / in 6 years

UPDATE 1-TSO3 posts wider Q2 loss on higher R&D costs

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Aug 9 (Reuters) - TSO3 Inc , which designs sterilization technology for medical devices, posted a wider second-quarter loss, due to higher research and development costs.

For the April-June quarter, net loss was C$2.1 million ($2.1 million), or 4 Canadian cents a share, compared with a net loss of C$1.9 million, or 3 Canadian cents a share, a year ago.

Total revenue rose 29 percent to C$703,357. R&D costs were up 34 percent in the quarter.

Shares of the Ste-Foy, Quebec-based company closed at C$1.70 on Monday on the Toronto Stock Exchange. ($1 = 0.990 Canadian Dollars) (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Joyjeet Das)

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