A big jump in sales of PET scanners helped propel CTI Molecular Imaging to strong revenue growth for the company's first quarter of fiscal 2005 (end-December 31).
For the period, CTI of Knoxville, TN, turned in sales of $111.5 million, a 50% increase compared with sales of $74.1 million in the same period of fiscal 2004. The company said it shipped 40 scanners in the quarter, compared with 26 units in the corresponding quarter the year before. FDG dose shipments in the company's PETNet PET radiopharmaceutical subsidiary grew 42% in the same time period.
CTI's net income was $4 million, compared with $700,000 in the same period of fiscal 2004. The company's backlog as of December 31 stood at $164 million, up $25 million compared with the firm's backlog on September 30.
The company issued a financial guidance calling for fiscal 2005 revenues to be $440 million to $450 million, with 185 scanners shipped. The company predicted earnings per share for the year to be 54¢ to 56¢ per share.
By AuntMinnie.com staff writers
February 1, 2005
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