CTI Molecular revenues surge

CTI Molecular Imaging reported fiscal second-quarter revenues of $82 million, up 48% compared with the $55.3 million posted in the same period last year. For the quarter (end-March 31), the Knoxville, TN-based vendor had net income of $4.5 million, compared with a net loss attributable to common shareholders of $12.8 million a year ago.

CTI's backlog stood at $176.4 million at the end of the quarter, up 65% from the same time last year. Chairman and CEO Terry Douglass said that the company’s quarterly results reflected continued growth in the PET market and the firm's overall business. He also cited particular strength in CTI's scanner business, as well as direct distribution efforts at CTI Services.

CTI reaffirmed prior guidance for fiscal 2003, with revenues of $355 million and fully diluted earnings per share of 60¢ to 64¢ per share.

By AuntMinnie.com staff writers
May 8, 2003

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