Revenue gains from its SenoScan digital mammography systems lifted Fischer Imaging Corp. to higher financial ground in its second fiscal quarter, ending June 29.
Revenues increased to $12.6 million, up 25 percent from $10.1 million in the second quarter of FY02. The company's net loss improved to $1.5 million, compared with a net loss of $18.5 million in the year-ago period. For the six-month period, revenues gained 6 percent to $22.8 million, compared with $21.6 million in the first half of FY02. Fischer Imaging posted a net loss of $3.5 million, compared with net income of $17.6 million in the year-ago period. Second-quarter results include patent litigation settlement income of $900,000, compared with settlement income of $25 million in the year-ago quarter. The second quarter also includes one-time consulting and restatement charges of $800,000.
Fischer Imaging also still is in the process of restating its financial statements for 2000, 2001 and 2002. The accounting firm of Ernst & Young LLP is handling the assignment.