Radiography vendor Del Global Technologies of Roselle, IL, posted financial results for the firm's third fiscal quarter (end-May 2), in which revenue plunged while the firm's net loss shrank.
For the period, Del posted revenue of $17.1 million, down 30% compared with sales of $24.4 million in the third quarter of fiscal 2008. Leading the decline was a drop in sales in the company's Medical Systems Group, which posted sales of $14.4 million, down 31% compared to the previous year. The drop was due to the international decline in sales caused by the global economic slowdown, the company said.
Despite the sales drop, Del was able to narrow its net loss, as the firm recorded a one-time asset impairment charge in the third quarter of 2008 that did not recur in the most recent period. Del posted a net loss of $815,000 in the most recent period, compared with a net loss of $1.6 million in the corresponding quarter of fiscal 2008.
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