X-ray and mammography developer Fischer Imaging continues to see positive results from its corporate restructuring plan. The Denver company this week reported third-quarter (end-October 1) financial results that show sharply rising net income thanks to higher profit margins.
For the period, Fischer posted revenues of $11.8 million, down 7% from sales of $12.7 million in the same period last year. But the firm bounced back on the profit side, reporting net income of $414,000, compared with a net loss of $2.1 million in the third quarter of 1999.
The 1999 figures were adjusted to exclude sales and profits from a product line that Fischer sold to GE Medical Systems last year. Fischer also excluded a $750,000 restructuring provision from the 1999 results.
Fischer executives reported gross margins for the third quarter at 51%, the highest level in the company's history. Fischer also installed its first MammoSound ultrasound-guided biopsy system in the third quarter.
By AuntMinnie.com staff writersNovember 2, 2000
Related Reading
Fischer Imaging closes private stock placement, August 29, 2000
Fischer names two VPs, August 9, 2000
Fischer builds marketing staff, August 2, 2000
Fischer adds to management team, July 18, 2000
Fischer moves into the black in Q1, May 4, 2000
Fischer names mammo marketing manager, March 23, 2000
Fischer eyes clearance for digital mammography, February 22, 2000
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