Bone densitometry vendor Norland Medical Systems reported third-quarter revenue of $2 million, down 28% compared with the $2.8 million posted in the same period last year. For the quarter (end-September 30), the White Plains, NY-based firm had a net loss of $511,000, compared with a net loss of $658,000 last year.
Despite the revenue decline, Norland was able to reduce its net loss through an ongoing cost-reduction program, said chairman and CEO Reynald Bonmati. Norland's diversification program has yet to generate sales. The vendor continues to receive cash necessary to support its operations from directors and officers, Bonmati said.
By AuntMinnie.com staff writersNovember 14, 2001
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