Radiation therapy services provider American Shared Hospital Services of San Francisco reported lower revenues and net income for the company's fourth quarter and full-year 2008 results.
For the quarter (end-December 31), American Shared posted sales of $4.7 million, down 43% compared with revenues of $8.3 million in the same period of 2007. The company posted net income for the quarter of $83,000, compared to net income of $178,000 in the same quarter a year ago.
The decline in fourth-quarter revenues was due the planned reduction in Gamma Knife systems in operation at clinical partner sites, partially offset by a 5% increase in revenue for units in operation more than one year, the company said. The previous year's numbers also included $3.2 million from the sale of equipment to a clinical partner whose lease had expired.
For fiscal year 2008, American Shared had revenues of $19.1 million, down 15% compared with revenues of $22.6 million in 2007. The company's net income for the year was $477,000, compared to a net profit of $951,000 in the previous year.
Related Reading
Varian wins California proton therapy contract, February 13, 2009
American Shared reallocates funds toward PBRT, September 24, 2007
American Shared inks proton-beam deal with M. D. Anderson, November 16, 2006
American Shared adds IGRT to Tufts, June 1, 2006
American Shared reports rising sales and profit, May 4, 2006
Copyright © 2009 AuntMinnie.com
