Revenues held steady at Prime Medical Services Inc. in 2003 with the contribution from the company's former RVC business segment.
Total revenues increased slightly to $160.4 million, compared with $160 million in 2002, after excluding RVC operations. Net income was $7.3 million, compared with $12.3 million in 2002, excluding RVC operations.
Prime Medical CFO John Q. Barnidge said the company is projecting first-quarter revenues of approximately $39 million, reflecting what Prime Medical described as "normal seasonal and cyclical weaknesses in our urology and manufacturing businesses, respectively."
"Looking beyond the first quarter," Barnidge, added, "we anticipate 2004 revenue of approximately $188 million -- approximately $110 million from manufacturing and approximately $78 million from lithotripsy."