Women's imaging vendor Fischer Imaging reported first-quarter revenues of $14.4 million, up 20% compared with the $12 million posted in the same period last year.
For the quarter (end-March 31), the Denver-based firm had a net loss of $6.6 million, compared with a net loss of $4.5 million a year ago. The net loss included other financing expenses and interest expenses of $2.8 million associated with a loan from ComVest Capital Partners II.
Fischer president and CEO Harris Ravine said that while the firm has made progress in its RE&S (radiology, electrophysiology, and surgery imaging) and stereotactic biopsy lines, the delay in launching the new version of its SenoScan system, combined with increasingly competitive pricing pressures, will continue to put pressure on Fischer's growth and will impact profitability. Facing liquidity constraints, Fischer is taking steps to reduce expenses and investigate strategic alternatives, Ravine said.
By AuntMinnie.com staff writers
May 23, 2005
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Fischer's 2004 net loss narrows on higher sales, April 1, 2005
Fischer nets SenoScan installs, December 9, 2004
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Fischer grows revenues, settles with SEC, November 16, 2004
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