Mammography vendor Fischer Imaging of Denver has reported unaudited results of financial restatements for its fourth quarter and full year 2002 and the first quarter of 2003. The company said that the independent audit of its restated financial statements being conducted by Ernst & Young is not yet complete.
Fischer said that revenue for the fourth quarter (end-December 31) of 2002 was $10.4 million, compared with $10 million for the fourth quarter of 2001, an increase of 4%. Net loss for the quarter was $4.4 million compared with a net loss of $200,000 in the same period the previous year.
Revenue for fiscal 2002 was reported by the company at $45 million, an increase of 5.9% compared with $42.5 million reported in 2001. Net income rose to $10 million for the year, compared with a net loss of $200,000 in fiscal 2001.
For the first quarter of 2003 (end-March 30) Fischer said its revenue was $9.5 million, a decrease of 18.1% compared with $11.6 million in revenue for the same period in 2002. The firm also reported a net loss for the quarter of $2.2 million, up 175% from the net loss of $800,000 reported in the first quarter of 2002.
By AuntMinnie.com staff writersJuly 17, 2003
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