Oncology and medical device developer RITA Medical Systems of Fremont, CA, reported increased revenues for its 2006 fiscal first quarter (end-march 31).
The company posted revenue of $12.5 million for the period, a solid increase compared with the $11.2 million booked in the fiscal 2005 first quarter. The company's net loss on a generally accepted accounting principles (GAAP) basis increased to $2 million for the quarter, compared with GAAP net losses of $1.7 million for the same period a year ago.
RITA said its outlook for the fiscal 2006 second quarter is between $12.5 million and $12.9 million in revenue, with GAAP net losses of $1.6 million to $2.2 million.
By AuntMinnie.com staff writers
May 10, 2006
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RITA downgrades Q3 outlook, October 12, 2005
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