Oncology and medical device developer RITA Medical Systems of Fremont, CA, reported a gain in revenues for its 2006 fiscal second quarter (end-June 30).
The company posted revenue of $12.8 million for the period, a solid increase compared with the $12 million recognized in the fiscal 2005 second quarter.
The company's net loss on a generally accepted accounting principles (GAAP) basis increased to $1.6 million for the quarter, compared with GAAP net losses of $1.4 million for the same period a year ago.
RITA said its outlook for the fiscal 2006 third quarter is between $12.2 million and $12.7 million in revenue, with GAAP net losses of $2.1 million to $2.7 million, which includes stock compensation expense in the range of $800,000 to $850,000.
By AuntMinnie.com staff writers
August 9, 2006
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