Contrast agent developer Advanced Magnetics reported fourth-quarter revenues of $1.7 million, up 23% compared with the $1.4 million reported in the same period last year. For the quarter (end-September 30), the Cambridge, MA-based vendor had net income of $111,000, compared with a net loss of $1.3 million in the fourth quarter of 2000.
For the fiscal year, Advanced Magnetics had revenues of $6.1 million, up 49.5% compared with the $4.1 million in fiscal 2000. The firm turned a net profit of $831,000, compared with a net loss of $11.3 million last year.
By AuntMinnie.com staff writersNovember 15, 2001
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