Bone densitometry vendor Norland Medical Systems reported 2000 revenues of $13.4 million, a 24.7% slide from the $17.8 million posted in 1999. For the year (end-December 31), the White Plains, NY-based firm had a net loss of $13.3 million, compared with a 1999 net loss of $2.2 million. Absent nonrecurring charges of $11.4 million, Norland would have reported a net loss of $1.9 million, according to the company.
In its fourth quarter, Norland had revenues of $2.8 million, down 35% compared with the $4.2 million posted in the same period last year. Norland had a net loss of $158,000, compared with a 1999 fourth-quarter net loss of $791,000.
Despite the revenue decline, Norland chairman and CEO Reynald Bonmati pointed to the success of a cost-reduction program in reducing the company's losses. As a result, a return to profitability could be achieved by a reasonable increase in U.S. bone densitometry sales, he said.
By AuntMinnie.com staff writersApril 5, 2001
Related Reading
Norland, Marconi sign distribution agreement, January 15, 2001
Norland Q3 revenues sag, November 14, 2000
CooperSurgical to distribute Norland bone measurement systems, November 7, 2000
Copyright © 2001 AuntMinnie.com
