Radiation therapy device developer TomoTherapy has shown a downturn in sales and an uptick in losses for the Madison, Wis.-based firm's fiscal 2009 second quarter, which ended June 30.
Second quarter 2009 revenue was $41.1 million, a decrease of 21 percent from $52 million in the second quarter of 2008, TomoTherapy said. The company incurred a net loss of $7.1 million for the second quarter of 2009, compared with a net loss of $6.9 million for the previous year-ago quarter.
As of June 30, the company said it had $149 million in cash, cash equivalents and short-term investments and minimal debt. During the quarter, there were no borrowings against the company's $50 million credit line.
"Despite marked improvements in certain areas, we recognize that we still have work to do in this challenging economic environment, especially in the U.S. We remain focused on further sharpening and enhancing our sales efforts, while at the same time maintaining strict discipline on the cost side," said Fred Robertson, TomoTherapy's CEO.