Fischer Imaging’s revenues fell and the company dipped into the red for the third quarter (end-September 29). For the period, the Denver company reported sales of $11 million, down 17% compared with revenue of $12.9 million in the same period the year before. The company posted a quarterly net loss of $1.9 million, compared with net income of $1 million in the third quarter of 2001.
For the first nine months of 2002, Fischer recorded revenues of $30.9 million, down 19% compared with sales of $36.9 million in the same period of 2001. The company had net income of $9 million year to date, compared with net income of $2 million in the same period in 2001. Fischer’s 2002 results have been boosted by $24.6 million in cash received as part of a patent settlement.
Fischer executives said that the company has a strong cash position ($16.4 million in cash and cash equivalents as of September 29), has lowered its receivables, and shifted its inventories to match its future product focus.
By AuntMinnie.com staff writersNovember 14, 2002
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Fischer releases preliminary Q2 results, August 29, 2002
Fischer Imaging delays Q2 reporting, August 15, 2002
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