Revenue growth across all of its product and service segments propelled CTI Molecular Imaging Inc. to higher revenue totals in FY03, ending September 30. Revenues totaled $362.2 million, compared with $258.4 million in FY02.
CPS Innovations, CTI's business units which develops and manufactures the company's PET and PET-CT systems, contributed revenues of $172 million in FY03, compared with $151.3 million in FY02. Net income rose to $20.6 million in FY03, compared with a net loss of $3.4 million in FY02. CTI also noted that it is "comfortable" with revenue projections in the range of $435 million to $445 million in FY04.