Higher revenues in its medical systems group boosted Franklin Park, IL-based Del Global Technologies fiscal-year 2008 (end-August 2) results, the company reported.
Del's consolidated net sales increased by 4% to $108.3 million for 2008, compared with $104.2 million in 2007, primarily as a result of higher sales in the medical systems group, which saw sales grow 4.5% to $95.1 million from $91 million last year. The medical unit's growth was due to an increased international sales volume of several medical system products, particularly the Apollo line, although this increase was offset by reduced U.S. sales.
Net income in fiscal 2008 totaled $3 million, down 27% compared to a net income of $3.8 million a year ago, which the company attributed to a one-time $1.9 million goodwill impairment charge and a $450,000 litigation settlement expense.
Net sales for the fiscal 2008 fourth quarter declined by 12.1% to $27.2 million from $31 million in the fourth quarter of fiscal 2007, due to lower sales from the company's medical systems group, where net sales declined to $22.8 million from $27.3 million in the prior year's fourth quarter.
The sales decrease reflected a decline in international sales during the quarter due to the fulfillment of a large Russian tender offer at Del Medical that positively impacted last year's sales but has now been completed, as well as reduced sales of Del's digital product line in the U.S.
Related Reading
Del adds Italian radiography orders, August 26, 2008
Del inks flat-panel deal, July 29, 2008
Del offers green power supply, June 27, 2008
Del's sales drop in Q3, June 9, 2008
Del Medical awarded DR supply pact, June 6, 2008
Copyright © 2008 AuntMinnie.com
