Third-quarter revenues at imaging technology manufacturer Colorado MedTech have plunged as a result of the company’s divestiture of several business units earlier this year.
The Boulder, CO-based firm reported 2003 fiscal third-quarter sales of $7.9 million, down 130% compared with the $17.7 million booked in the third quarter of 2002. For the period (end-March 31), the Boulder, CO-based firm had a net loss of $5.6 million, compared with a net loss of $1.2 million in the same period last year.
On January 24 this year, the firm sold the majority of its assets in its Colorado operations to microelectronic device developer HEI. Colorado MedTech’s business now includes only the operations of its CIVCO Medical Instruments subsidiary, which is also for sale.
Sales for the first nine months of fiscal 2003 were $36.6 million, compared with $52.3 million for the same period in the prior year. The company reported a net loss for the period of $5.4 million, compared with a net loss of $3.2 million for the first nine months of fiscal 2002.
By AuntMinnie.com staff writersMay13, 2003
Related Reading
Colorado MedTech sold, March 13, 2003
Colorado MedTech sells Colorado operations, January 27, 2003
Colorado MedTech trims loss despite sales dip, November 12, 2002
Colorado MedTech to explore sale options, September 26, 2002
Colorado MedTech shows profitable Q4, August 20, 2002
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