08:37 AM EDT, 08/21/2024 (MT Newswires) -- Covalon Technologies ( CVALF ) , a medical technologies company, on Wednesday said it swung to a third-quarter profit on higher revenue.

The company reported net income of $1.45 million, or $0.06 per share, compared with a loss of $0.5 million, or $0.02 per share last year.

Total revenue increased 47% to $9.22 million, boosted by a 53% jump in higher product revenue. This was due to the expansion of Covalon's ( CVALF ) products within U.S. Hospitals and stronger customer demand for its collagen dressing, the company said.