Medical imaging technology manufacturer Colorado MedTech reported fiscal second-quarter sales of $17.7 million, down 5.3% from the $18.7 million reported in the same period last year. For the quarter (end-December 31), the Boulder, CO-based vendor had a net loss of $818,000, compared with a net loss of $676,000 last year.
The company said the increased loss was due to a decrease in outsourcing services revenues and gross margin, as well as greater quality-control expenses in connection with its response to a Food and Drug Administration warning letter, a situation that is now resolved.
During the second half of the fiscal year, Colorado MedTech will continue to focus on reducing costs and improving sales and profitability, said president and CEO Stephen Onody.
By AuntMinnie.com staff writersFebruary 5, 2002
Related Reading
Colorado MedTech exonerated in arbitration ruling, December 6, 2001
Colorado MedTech posts Q1 loss, November 6, 2001
Colorado MedTech resolves FDA warning letter, October 15, 2001
Colorado MedTech reports progress with FDA, September 17, 2001
Colorado MedTech tagged with Q4, 2001 loss, August 21, 2001
Copyright © 2002 AuntMinnie.com
