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MGC DIAGNOSTICS Corp

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2017 10-Q, filed Sep 14, 2017. Its latest SEC filing is a SC 13G/A from Feb 12, 2019.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Sells non-invasive cardiorespiratory diagnostic equipment, software and services to healthcare providers and clinical research organizations.

How Did They Make Money?

Customers buy diagnostic equipment, supplies and accessories, with payment generally due 30 to 60 days after shipment; service-contract income is earned over service periods typically lasting one to five years.

FY2016 revenue

Who Were Their Customers?

Hospitals, clinics and research organizations are served by direct sales forces in the United States, France, Belgium, the United Kingdom and Italy, while independent distributors handle other international markets.

Did Revenues Turn Into Profits?

No. It lost $3.8M in FY2016.

Operating income, FY2016
−7% of revenue
▼ Now a loss vs FY2015 ($1.6M, 4%)
Net income, FY2016
−9% of revenue
▼ Now a loss vs FY2015 ($4M, 11%)

How Were They Changing?

Since the FY2016 annual report
Latest quarter: Q3 FY2017, the three months to Jul 31, 2017
Revenue
▲ +6%
vs $9.9M in Q3 FY2016
Net income
▲ +192%
vs $260K in Q3 FY2016
  • Dec 28, 2017 Merger made MGC a wholly owned subsidiary and ended Nasdaq trading The company became a wholly owned subsidiary after the merger, and its shares ceased trading on Nasdaq.

Grew. Revenue grew 47% in 4 years, from $27.2M in FY2012 to $40M in FY2016, about 10% a year.

Medisoft product line The product range expanded beyond Medical Graphics-branded cardiorespiratory diagnostics to include Medisoft-branded products sold through its subsidiary.

Who Did They Compete With?

Competes with Vyaire, nSpire Health, Cosmed, Ganshorn, ndd, and Morgan Scientific

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