TomoTherapy, a producer of advanced radiation therapy products, has reported a net loss of $3.4 million for the fourth quarter of 2009, as well as $37.4 million loss for the fiscal year ending December 31, 2008.
While the quarterly figure represented an improvement over the $7.5 million loss reported in the year ago quarter, the company reported its net loss for the year was slightly more than the $33.5 million posted in fiscal 2008.
Fourth quarter revenue was $58 million, a drop of 33 percent from the $86.3 million reported in the fourth quarter in 2008. Total revenue for the year was $164 million, a 20 percent decrease from the 12-month period that ended Dec. 31, 2008.
"While we are starting to see some improvement in the 2010 market, especially given lower-than-expected Centers for Medicare & Medicaid Services reductions to reimbursement rates, said Fred Robertson, TomoTherapy’s CEO. “We are still facing a tough competitive environment and a long sales cycle. Therefore, we expect our 2010 revenue and net loss to be comparable to 2009.”