Imaging technology developer Colorado MedTech reported fiscal third-quarter revenues of $21 million, up 14% from the $18.3 million posted in the same period last year. For the period (end-March 31), the Boulder, CO-based vendor had a loss of $635,000, compared with net income of $790,000 last year.
The vendor had expected a loss in the second half of its fiscal year, and has implemented a cost-reduction program that will generate annual savings of approximately $2 million, according to CEO and chairman Stephen Onody.
In other news, Colorado MedTech has sold its catheter subsidiary CMED Catheter and Disposables Technology to CardioTech International for $1.3 million in cash. Colorado MedTech divested the subsidiary as part of its strategy to focus on its core business of technology outsourcing and medical imaging.
By AuntMinnie.com staff writersMay 8, 2001
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Colorado MedTech gets FDA warning letter, January 31, 2001
MedTech acquires ATL’s imaging supplies business, January 2, 2001
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