Del Medical sales climb

Del Medical Systems Group turned in fiscal second-quarter sales of $23.8 million, up 56% compared with the 2003 fiscal second quarter. The group contributed approximately 80% of net sales to parent company Del Global Technologies in the second quarter. Net income figures for Del Medical Systems Group were not broken out.

The Valhalla, NY-based group’s sales growth was attributable to deliveries on an $8.5 million order from Instituto Mexicano del Seguro Social (IMSS) for 22 Mercury remote-controlled digital radiographic/fluoroscopic (R/F) imaging systems, as well as favorable exchange rates at its Villa Sistemi Medicali subsidiary.

In other company news, Del Global Technologies said it has reached an agreement in principle with the U.S. government to settle a Department of Defense investigation into past business practices at Del’s RFI electronic components subsidiary. The terms of the settlement call for Del to pay $5 million by September 30, and plead guilty to one criminal count. The amount payable would be reduced by $400,000 if the firm paid the U.S. government by June 30.

By AuntMinnie.com staff writers
March 16, 2004

Related Reading

Favorable currency effects boost Del revenues, November 4, 2003

Schneider takes helm at Del, October 13, 2003

Del terminates shareholder plan, revises Q4 outlook, July 30, 2003

Del Q3 sales slip, June 24, 2003

Del delays 10-Q filing, June 19, 2003

Copyright © 2004 AuntMinnie.com

Page 1 of 3462
Next Page