Net sales from Instrumentarium's medical equipment operations reached $105.7 million (U.S.) in the first six months of 2003, down 2% from the $108 million reported in the same period last year. Net sales gains from the Helsinki-based vendor's Ohmeda Medical unit did not compensate for the decline in net sales of diagnostic imaging equipment by Instrumentarium Imaging and Soredex, Instrumentarium said.
Instrumentarium Imaging and Soredex combined to produce net sales of $62.7 million, down 12% from 2002. Sales of surgical imaging equipment, and in particular mammography systems, were lower than last year, according to the vendor.
Profitability of the diagnostic imaging units also decreased relative to last year, and the businesses were also hurt by the strengthening of the euro versus the dollar, and by a weaker overall market situation, according to the vendor.
Overall, Instrumentarium's medical equipment segment had operating profit before nonrecurring items and amortization of goodwill of $6.9 million, compared with $5.1 million in the same period a year ago. Instrumentarium expects its proposed acquisition by GE Medical Systems will close in the third quarter.
By AuntMinnie.com staff writersJuly 23, 2003
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