MRI accessories developer IRadimed reported a large drop in revenues and net income for its third quarter (end-September 30).
Revenue came in at $5.7 million, down 26% from $7.7 million for the prior year's quarter. Net income dipped to $192,000, compared with $1.6 million for the same quarter a year ago.
Similarly, for the nine-month period (end-September 30), the company reported revenues of $16.4 million, down 38% from $26.5 million for the first nine months of fiscal 2016. The firm reported net income of $316,000 year to date, compared with net income of $6 million for the same period last year.
