Fischer's 2004 net loss narrows on higher sales

Mammography vendor Fischer Imaging reported a 39% increase in sales for the company's fiscal 2004 (end-December 31), while the Denver firm's net loss narrowed due to higher product sales and better gross margins.

For the year, Fischer posted revenues of $64 million, compared with $46.2 million in fiscal 2003. The company posted a loss for the year of $6.9 million, compared with a net loss of $14.4 million in 2003. The 2004 numbers included one-time income of $5.1 million from a patent settlement, while the 2003 figures included $900,000 in patent-settlement income.

For the fourth quarter of fiscal 2004, Fischer had revenue of $14 million, up 11% compared with sales of $13 million in the same period of 2003. The net loss for the quarter fell to $3.8 million, compared with $7.6 million in the corresponding period of 2003.

The company said that product revenue for 2004 increased 48%, led by growth in sales of its SenoScan full-field digital mammography system. The company said that other highlights in the quarter included the signing of a distribution deal for SenoScan with Philips Medical Systems of Andover, MA, and a deal to provide U-arm assemblies from its VersaRad-D digital x-ray system to Virtual Imaging of Delray Beach, FL, which is incorporating them into digital radiography systems.

By staff writers
April 1, 2005

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