MRI components provider Intermagnetics General reported net income for operations without acquisition, integration, and noncash items of $7.9 million in its fiscal second quarter 2005, a nearly 75% increase compared with the $4.5 million in net income posted in the same period last year. Including the items, the firm had net income of $4.1 million.
For the quarter (end-November 28), the Latham, NY-based vendor had net sales figures of $75.1 million, compared with the $39.9 million reported for the prior year period. The firm said that contributions from its recently acquired companies, Invivo Diagnostic Imaging and MRI Devices, contributed to revenue growth.
The company reported that its magnet system sales came in at nearly $30 million with operating profit of $6.7 million for the first half of the year; and that medical devices sales were $33.6 million, yielding an operating profit of $5.4 million.
For the first six months of fiscal 2005, the company's reported net income was $9.4 million, and net sales for the six-month period reached nearly $135 million, the company said.
By AuntMinnie.com staff writers
December 21, 2004
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