Revenues for MRI accessories developer IRadimed dropped 44% in its second quarter.
For the period (end-June30), IRadimed had revenues of $5.5 million, down 44% from the $9.9 million reported in the second quarter of 2016. The firm had net income of $400,000, down from $2.2 million in the same quarter a year ago.
In a statement, President and CEO Roger Susi said he was pleased with the second-quarter results, noting that they were compared against IRadimed's highest ever reported quarterly revenue in the second quarter of 2016. Also, revenues were up 7% from the first quarter of 2017 and earnings came in above estimates, he said.
In addition, sales of IV pumps exceeded expectations, and the company looks to carry this momentum into the second half of the year, Susi said.
