Fischer Imaging grows revenues in the first quarter, but net loss increases

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Favorable pricing on its SenoScan digital mammography product line helped Fischer Imaging Corp. increase sales in the first quarter.

Revenues totaled $12 million, up 26 percent from $9.5 million in the first quarter of 2003. The net loss increased to $4.5 million, compared with a net loss of $2.4 million in the year-ago quarter.

Margins on service revenue were negative, primarily as a result of increased parts usage associated with installed SenoScan systems.

Fischer Imaging President and CEO Harris Ravine said the digital mammography systems company continues "to have challenges with respect to profitability. However, to meet these challenges we are working to increase sales and improve supply chain efficiencies and product quality while reducing the higher than normal operating expenses associated with financial restatement and other issues. We believe this will take time, but we also believe we are on the right path."