Fischer reports Q2 loss, but revenues grow

Oct 7, 2003

Mammography vendor Fischer Imaging of Denver reported fiscal 2003 second-quarter revenues of $12.6 million from products and services, a 25% increase compared with $10.1 million in sales in the second quarter of 2002. For the period (end-June 29) the company recorded a net loss of $1.5 million, compared with net income of $18.5 million for the comparable quarter in fiscal 2002.

Fischer said its 2003 second-quarter results include patent litigation settlement income of $900,000, whereas the comparable quarter of 2002 results reflect one-time income of $25 million from the same settlement. In addition, the 2003 second-quarter results reflect a one-time consulting and restatement charge of $800,000, and the second quarter of 2002 results include inventory write-downs and other charges of $5.3 million.

For the first half of its fiscal year, Fischer reported revenue from products and services of $22.8 million, a 6% increase compared with the $21.6 million stated for the first half of 2002. The firm’s operating loss for the 2003 period decreased to $4.5 million from $7.2 million in the comparable 2002 period. Net loss for the 2003 period was $3.5 million, compared with net income of $17.6 million for the comparable six-month period in 2002.

By AuntMinnie.com staff writers
October 8, 2003
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