Strong sales from patient vital-signs monitoring systems powered IRadimed to double-digit revenue growth in the fourth quarter and for 2018 (end-December 31, 2018).
Revenue for the MRI accessories developer advanced 31% last year to $30.4 million, compared with $23.1 million in 2017. Net income increased to $6.3 million, compared with net income of approximately $500,000 in 2017.
Fourth-quarter revenue rose by 24% to $8.3 million, compared with $6.7 million in the fourth quarter of 2017. Net income in the fourth quarter climbed to $1.7 million from approximately $200,000 in the same quarter a year ago.
As for 2019, IRadimed is projecting revenue of $38.5 million to $39.5 million, which would represent an increase of approximately 25% above 2018 revenue results.