X-ray firm Del Medical Systems Group reported fiscal 2004 sales of $70.8 million, up 26.2% compared to the $56.1 million reported in fiscal 2003. The company also reported that it has found a potential buyer for its medical business.
The Valhalla, NY-based firm attributed its improved financial results primarily to higher international sales that offset a decline in U.S. shipments, as well as favorable foreign currency exchange effects of approximately $1.4 million.
For the year (end-July 31), the firm had operating income of $5.4 million, compared to operating income of $1 million last year.
In the fourth quarter, Del Medical Systems Group booked sales of $15.8 million, up 3.3% compared to the $15.3 million turned in last year. The company had fourth-quarter operating income of $900,000, compared to operating income of $300,000 in the same period last year.
In early October, Del Medical Systems Group parent Del Global Technologies entered into nonbinding letters of intent for the sale of the Medical Systems Group to an undisclosed party. Del Global Technologies said it intends to call a stockholders' meeting to seek approval for the sale in the event a definitive agreement is entered into.
By AuntMinnie.com staff writers
November 1, 2004
Related Reading
X-ray firm Del Medical entertains buyout offers, August 24, 2004
Del Medical shows Q3 sales growth, June 16, 2004
Del Global gets SEC OK, June 2, 2004
SourceOne, Del expand distribution pact, April 22, 2004
Del Medical sales climb, March 16, 2004
Favorable currency effects boost Del revenues, November 4, 2003
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