Radiopharmaceutical developer North American Scientific (NAS) of Chatsworth, CA, reported fourth-quarter and year-end results for the 2003 fiscal year (end-October 31).
For the fourth quarter, the firm reported net sales of $3.6 million, a decline from the $5.6 million reported for the same period last year. The net loss for the period was $3.2 million, compared with a net loss of $142,000 for the prior-year quarter.
The firm said it expected a year-over-year decrease in sales principally attributable to the transition from a third-party distribution relationship to direct sales of its brachytherapy seed products.
For fiscal year 2003, net sales were $14.7 million, a 29% downturn from the $20.8 million posted in fiscal year 2002. The company’s net loss for the year was stated as $9.4 million, compared with a net loss of $5.2 million last year.
By AuntMinnie.com staff writersDecember 18, 2003
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