Lower sales of digitizers and computed radiography systems and increased expenses for its AuntMinnie.com subsidiary resulted in lower fourth-quarter results for Lumisys of Sunnyvale, CA.
For the quarter (end-December 31), Lumisys reported revenues of $4.4 million, down 17% compared with sales of $5.2 million in the same period the year before. The company posted a net loss from continuing operations of $460,000, compared with net income from continuing operations of $151,000 the year before. Lumisys said that 1998’s revenue has been restated to exclude Imagraph, a component business that Lumisys divested last year.
For the full year, Lumisys reported revenue of $19.2 million, up slightly compared with revenues reported in 1998 (Imagraph sales were also excluded from full-year results). The company produced a full-year net loss from continuing operations of $131,000, compared with net income for 1998 of $894,000.
Lumisys president and CEO Dr. Phillip Berman said that the company had hoped for higher sales of its new CR unit, ACR-2000, but that the company has still shipped twice as many units when compared to historical shipment levels of digitizers in their first year of availability. One-third of Lumisys’ revenues now comes from CR products, Berman said.
In addition, expenses associated with the company’s AuntMinnie.com radiology portal subsidiary reduced the company’s numbers. Lumisys reported $803,000 in fourth-quarter pre-tax expenses related to AuntMinnie.com. Lumisys and AuntMinnie.com executives said they were pleased with the reception that the Web site has received since launching in late November, and said that Lumisys would probably seek additional sources of capital for the subsidiary.
By AuntMinnie.com staff writers
January 26, 2000
Disclosure notice: AuntMinnie.com is a wholly owned subsidiary of Lumisys, Inc.
Copyright © 2000 AuntMinnie.com
