Strong sales growth of its nonmagnetic intravenous pump systems led MRI accessories developer IRadimed to an 18.3% increase in first-quarter revenue.
For the period (end-March 31), IRadimed had revenues of $8.4 million, up from $7.1 million in the first quarter of 2018. The company had first-quarter net income of $1.8 million, up from $800,000 in the same period last year.
IRadimed said it expects second-quarter revenue will range from $8.8 million to $9 million, while diluted earnings per share under generally accepted accounting principles (GAAP) will range from 11¢ to 12¢. The company affirmed its 2019 revenue and earnings guidance.
