Strong sales of its MRI-compatible patient vital signs monitoring system propelled MRI accessories developer IRadimed to a 33% increase in revenue in its 2018 third quarter.
For the period (end-September 30), IRadimed had revenue of $7.6 million, up from $5.7 million reported in the third quarter of 2017. Sales of its 3880 MRI-compatible vital signs monitoring system reached $1.7 million during the period, up from $100,000 in the same quarter last year.
The company had third-quarter net income of $2.4 million, compared with net income of $193,000 in the 2017 third quarter. In a statement, IRadimed President and CEO Roger Susi said that customer orders for its new patient monitoring systems have exceeded expectations and that its international business has been stronger than anticipated this year. The firm expects these trends to continue for the rest of 2018 and beyond.
