Women's imaging vendor Fischer Imaging of Denver reported fiscal 2005 second-quarter revenues of $11.2 million, down from $19.8 million posted in the same period last year.
For the quarter (end-June 30), the firm posted a net loss of $9.1 million, a steep slide compared with a net profit of $3.1 million in the comparable 2004 period. The 2005 loss included nonrecurring adjustments, primarily an increase in inventory reserves, of $5.2 million as a result of the company's pending mammography intellectual property sale agreement with Hologic of Bedford, MA.
The firm said it experienced a decline in product sales to $7.7 million in the current period from $16.1 million in the 2004 second quarter as a result of a decrease in sales of its SenoScan digital mammography system to $1.2 million from $9.3 million the previous year, and a decline in radiology, electrophysiology, and surgical sales to $1.5 million from $2.9 million the previous year.
Fischer said that SenoScan sales were affected by price declines and an inability to provide upgrades and enhancements to its image and workflow management software.
By AuntMinnie.com staff writers
August 16, 2005
Related Reading
Fischer names new CEO, July 11, 2005
Fischer/Hologic deal spells end for SenoScan FFDM unit, June 30, 2005
Hologic to buy Fischer's mammo technology, June 23, 2005
Fischer names COO, June 3, 2005
Fischer posts mixed Q1, May 23, 2005
Copyright © 2005 AuntMinnie.com
