Electron beam CT developer Imatron reported third-quarter revenues of $16.9 million, 3% lower than the $17.5 million reported in the third quarter last year. For the quarter (end-September 30), the South San Francisco, CA-based vendor had net income of approximately $47,000, compared with net income of $1.6 million in the same period in 2000.
Imatron projects that fiscal 2001 revenues will reach $71 million, down from earlier forecasts of $80 million. The company also is expecting a 30% drop in net operating income, compared with earlier projections of a 50% growth in net operating income.
The events of September 11 and subsequent economic uncertainty is negatively affecting Imatron's projected sales for the remainder of the year, said CEO Lewis Meyer. Fiscal 2002 sales growth may be also be affected, he said. GE Medical Systems' acquisition of Imatron is expected to close by the end of the year, pending shareholder approval and other customary conditions.
By AuntMinnie.com staff writersNovember 16, 2001
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