Despite higher sales of its brachytherapy seeds and accessories, radiation therapy products firm North American Scientific (NAS) of Chatsworth, CA, posted a larger net loss in fiscal year 2007 (end-October 31).
Fourth-quarter revenues from continuing operations totaled $4.2 million, a 25% increase over revenues of $3.3 million from continuing operations in the fourth quarter of fiscal 2006. NAS had a net loss of $3.9 million, compared with a net loss of $6.1 million in the same quarter a year ago. The net loss includes $800,000 from the discontinued operations of the company's Nomos radiation oncology business.
For fiscal 2007, the firm posted revenues from continuing operations of $15.3 million, compared with revenues from continuing operations of $12.6 million in fiscal 2006. The 22% increase was aided by a 24% gain in sales of brachytherapy seeds and accessories, and a 16% spike in sales of nontherapeutic products.
The company's net loss for fiscal 2007 was $21 million, compared with a net loss of $17.1 million in fiscal 2006. The heightened loss was due primarily to a $2.8 million increase in the net loss from discontinued operations, and a $1.1 million increase in the net loss from continuing operations.
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