CTI Molecular Imaging posts double-digit revenue gain

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CTI Molecular Imaging Inc. said that it has made "a good start" in its first fiscal quarter, ending Dec. 31, 2003, to balance long-term growth with its quarterly objective to meet and exceed earnings per share goals.

Net revenues rose 22 percent to $74.1 million, compared with $60.6 million in the first quarter of FY03. Net income slipped to $700,000, compared with $3.4 million in the year-ago quarter.

In the quarter, CTI shipped 26 scanners and booked orders for an additional 55 units. Twenty-one of those scanners shipped through CTI's partners and distributors, while 36 of its 55 orders came through those same channels. Those results compare with a total of 30 scanners shipped and 56 total orders taken in the year-ago quarter.