MRI components provider Intermagnetics General reported strong growth in sales and net income for its fourth quarter of fiscal 2005 (end-May 29).
For the period, the Latham, NY, company posted revenues of $78.1 million, up 49% compared with $52.4 million in the fourth quarter of fiscal 2004 (neither quarter includes sales from the company's divested PolyCold subsidiary). The company said revenue grew in part due to the acquisition of Medical Devices in 2004 and due to the expansion of direct sales personnel.
The company's net income from continuing operations for the most recent period was $3.4 million, compared with $5.1 million in the fourth quarter of 2004.
For the year, Intermagnetics recorded sales of $264.8 million, up 89% compared with sales of $139.8 million in fiscal 2004 (not including PolyCold numbers). The firm's net income was $37.5 million, compared with $14.9 million in fiscal 2005.
By AuntMinnie.com staff writersJuly 27, 2005
Related Reading
Intermagnetics posts robust Q3, March 17, 2005
Intermagnetics signs Mainelli, January 24, 2005
Intermagnetics shows strong Q2, December 21, 2004
Intermagnetics divests subsidiary, December 16, 2004
Intermagnetics sees Q4 growth, July 15, 2004
Copyright © 2005 AuntMinnie.com
