SAGE Therapeutics Inc (NASDAQ:SAGE) posted a net loss of $9.9 million in 3Q2014 compared to $4.5 million in 3Q2013. However, loss per share came at $0.50 compared to $2.98 in 3Q2013. The analysts expected the loss to come at $0.40 per share. The loss from operations of SAGE in 3Q2014 widened to $9.5 million compared to $4.5 million in the same period a year ago. G&A expenses rose to $2.9 million compared to $1.1 million in 3Q2013. The personal related expenses made to support the measures for becoming a public firm led to higher G&A expenses.
On Track Innovations Ltd (USA) (NASDAQ:OTIV)’s 3Q2014 revenues came at $5.3 million compared to $5.5 million in 3Q2013. The lower petroleum segment revenues and deferred NFC reader sales led to a drop of 4% in the total revenues. The gross profit came at $2.6 million compared to $3.0 million in 3Q2013. The lower revenues and focus on lower margin product sales resulted in a decline in gross profit. The operating expenses rose to $4.8 million versus $218,000 in 3Q2013. The net loss of On Track from continuing operations came at $2.3 million compared to $2.6 million in 3Q2013. Ofer Tziperman, the CEO of OTIV, said that it is the start of the good times for the cashless payment industry.
Summer Infant, Inc. (NASDAQ:SUMR) posted the net revenues of $51.0 million compared to $50.5 million in 3Q2013. The gross profit rose to $16.6 million compared to $15.0 million in 3Q2013. The favorable product offerings and lower level of promotional sales resulted in improved gross profits. The net loss came at $0.1million compared to $1.3 million in 3Q2013. The selling expenses came at $4.5 million compared to $4.9 million in 3Q2013. Also, Summer Infant announced that William Mote will be the new CFO of the company effective November 10, 2014. Carol Bramson, the CEO of Summer Infant, said that the rise in net sales is significant especially when 3Q2013 was supported by low-margin furniture products and licensing revenue.