Lawsuit blows hole in QT Vascular's Q3 balance sheet, bottom line

Singapore

QT VASCULAR fell into negative equity and posted a ballooned net loss of US$33.3 million for the third quarter as the company fully provided for damages that it may have to pay after losing a lawsuit.

The maker of balloon catheters said net loss was four US cents per share for the three months ended September. In the third quarter of 2014, net loss was US$3.7 million, or 0.5 US cent per share.