Trex Medical's financial performance continues to lag. The Danbury, CT-based x-ray and mammography vendor turned in a 32.4% decline in quarterly revenues and a sharp increase in net loss for its fiscal first quarter.
For the period (end-January 1), Trex had revenues of $43.9 million, compared with $64.9 million in 1999. The company's net loss was $6.9 million, compared with a loss of $1.5 million last year. Excluding restructuring costs, the loss would have been $6.3 million.
Trex president and CEO William Webb emphasized progress made in restructuring the company. During the quarter, Trex closed two factories, relocated manufacturing operations and reduced headcount in the U.S. by 31%. Trex announced last week that its parent, Thermo Electron, has decided to divest Trex as part of a larger strategy of focusing on its core measurement and detection instruments business.
By AuntMinnie.com staff writers
February 9, 2000
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