Oncology device firm RITA Medical Systems said today that its total third-quarter sales will come in below expectations, ranging from $7.9 million to $8 million. The Mountain View, CA-based firm had previously provided guidance estimating total sales to be between $9 million and $9.4 million.
Total sales were affected principally by disruptions in direct-selling activities early in the quarter for its direct sales force and modifications of the U.S. distribution policies of RITA and the company that it recently acquired, Horizon Medical Products, RITA said.
On the bright side, earnings per share, gross margins, and operating expenses were in line with expectations. Full third-quarter results will be released November 3.
By AuntMinnie.com staff writers
October 28, 2004
Related Reading
RITA gets Cigna approval, September 14, 2004
RITA shuffles management, August 31, 2004
RITA completes Horizon merger, August 2, 2004
RITA, Horizon to merge, May 13, 2004
RITA Q1 shows sales upturn, April 29, 2004
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