PET manufacturer Positron reported third-quarter revenues of $333,000, down 6.5% compared with the $356,000 recorded in the third quarter last year. For the period (end-September 30), the Houston-based vendor had a net loss of $681,000, compared with a net loss of $567,000 last year.
Positron had no system sales in the quarter, nor did it sell any systems in the third quarter of 2001. The firm said it booked orders for two new mPower systems and one remanufactured Auricle system, all of which are scheduled to be delivered within 120 days.
As of September 30, the firm had cash and cash equivalents of $78,000 as well as accounts payable and accrued liabilities of $2.5 million. It was also in default on a $2 million note payable to a shareholder.
President and CEO Gary Brooks said that the company is pleased with progress during the quarter, which included additions to its backlog. Positron will continue to focus on system sales and upgrades to current installations, Brooks said.
By AuntMinnie.com staff writers
November 18, 2002
Related Reading
Positron obtains clearance for PET family, August 19, 2002
Positron revenues jump, losses continue, August 19, 2002
Positron sells two mPower scanners, July 9, 2002
Positron trims loss, ships scanner in Q1, May 17, 2002
Positron issues "going concern" warning, April 2, 2002
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