PET services provider Molecular Imaging reported unaudited 2004 fiscal third-quarter service revenues of $5.3 million, a slight downturn compared with the $5.65 million turned in during the same quarter a year ago.
For the period (end-March 31), the San Diego-based firm had a net loss from continuing operations of $867,000, compared with net income of $62,000 for the same period last year.
For the first nine months of the fiscal year, the firm said its service revenues were $16.5 million, an increase of approximately 8.2% compared with service revenues of $15.3 million for the same quarter in fiscal 2003.
Net losses continue to mount for the company as it posted a $2.7 million dollar net loss for the first three quarters, compared with a net loss of $1.1 million for the same period in 2003.
President and CEO Paul Crowe said the firm has increased its service revenues over last year, adding that new business that had been delayed earlier this year was ramping up and should begin to shift the company toward profitability.
By AuntMinnie.com staff writersMay 18, 2004
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