IRadimed posts strong Q4, year-end results

By AuntMinnie.com staff writers

February 7, 2020 -- MRI accessories developer IRadimed posted strong revenue and income gains for the fourth quarter and 2019.

For the quarter (end-December 31, 2019), revenue increased by more than 30% to $10.9 million, compared with $8.3 million in the fourth quarter of 2018. Net income in the fourth quarter climbed to $3.2 million from approximately $1.7 million in the same quarter a year ago.

Revenue for the firm increased to $38.5 million in 2019, compared with $30.4 million in 2018. Net income increased to $9.6 million for the year, compared with a net income of $6.3 million in 2018.

IRadimed attributed its growth to a record high number of orders for the year. In addition, the fourth quarter was the first quarter in which the company saw sales that passed $10 million.


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