Virtual colonoscopy and contrast developer E-Z-EM reported fiscal 2003 third-quarter sales of $33.1 million, up 9% compared with the $30.6 million posted in its 2002 fiscal third quarter. For the period (end-March 1), the Westbury, NY-based firm had net earnings of $280,000, compared with net earnings of $1.2 million in the same period last year.
The company attributed the results to continued growth in its AngioDynamics subsidiary, as well as strong sales of its diagnostic products in CT. These developments were partially offset by increased operating expenses and softness in traditional x-ray fluoroscopy product sales, said the firm.
For the first three quarters of fiscal 2003, E-Z-EM has reported net earnings of $527,000 on net sales of $96.3 million, compared with a net loss of $122,000 on net sales of $88.9 million for the same period in fiscal 2002.
By AuntMinnie.com staff writersApril 15, 2003
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