Fischer Imaging credited its ongoing restructuring plan for a second quarter marked by rising income and falling sales.
For the period (end-July 2), The Denver company reported revenues of $11.9 million, compared with revenues of $16.7 million in the same period of 1999. Fischer's net income for the quarter was $465,000, compared to a normalized net loss of $1.2 million in the second quarter of 1999.
Fischer said the 1999 results were normalized to exclude $6.2 million in revenue and $5.8 million in net income derived from a technology license sale agreement with GE Medical Systems, as well as a $750,000 restructuring provision.
The company said the restructuring effort has resulted in operational efficiencies that have improved the firm's gross margins to 50% for the quarter, compared with normalized gross margins of 32% in the second quarter of 1999.
Fischer reported that its Mammotest stereotactic breast biopsy system is selling well, and the company will soon begin marketing MammoSound, an ultrasound-guided breast biopsy unit. Clinical trials for the vendor's SenoScan full-field digital mammography system are nearing completion, and Fischer expects to file a 510(k) or premarket approval (PMA) application shortly.
By AuntMinnie.com staff writersAugust 16, 2000
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