Radiation therapy firm North American Scientific reported record third-quarter net sales of $8.1 million, up 170% compared to net sales of $3 million for the third quarter a year ago. For the period (end-July 31), the Chatsworth, CA-based vendor had a net loss of $19.4 million (including nonrecurring expenses of $13.5 million), compared to a net loss of $2.8 million posted for the same quarter in 2003.
NAS attributed the revenue increase to the consolidation of its acquisition of radiation therapy firm Nomos in May. The nonrecurring expenses included $7.8 million for the write-off of in-process R&D included in the Nomos purchase, $1 million of integration expenses, and a noncash impairment charge of $4.7 million to write off the goodwill and other assets of its Theseus subsidiary, which NAS is shutting down.
By AuntMinnie.com staff writers
September 22, 2004
Related Reading
NAS to shutter Theseus, August 30, 2004
Elekta, NAS team up, August 18, 2004
Nomos adds image-guided tracking device, July 15, 2004
Philips expands R&D deal with Theseus, June 23, 2004
NAS back on track with Hynic-Annexin V, June 13, 2004
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