Molecular Imaging gets off to good revenue start in FY04

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Mobile positron emission tomography (PET) supplier Molecular Imaging Corp. has released its unaudited results for its first fiscal quarter of 2004, ending Sept. 30. Revenues increased to $5.6 million, up 13 percent from $4.6 million in the first quarter of FY03. Gross profit rose to $2.1 million, compared with $1.5 million in the year-ago quarter.

 Molecular Imaging credited a 24 percent decline in selling and marketing expenses for its heightened profit. For the quarter, the company also reported a loss of $408,049 from continuing operations, compared to losses from continuing operations of $821,974 in the year-ago quarter.