The digital x-ray market is finally starting to gather steam, if the financial results of digital x-ray developer Swissray International are any indication. The New York City-based vendor reported record fourth-quarter revenues of $9.6 million, up 136% from the $4.1 million it reported in the same period last year.
The revenue gains weren’t enough to bring profitability to the company, however. For the quarter (end-June 30), Swissray had a net loss of $4.1 million, compared with a net loss of $11.3 million in 1999. Swissray did report positive cash flow of $1.1 million from the quarter, however, the first in which the firm has generated positive cash flow.
By AuntMinnie.com staff writersSeptember 21, 2000
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