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ADAC sees sharp 1999 net income decline
Nuclear medicine vendor ADAC Laboratories reported mixed results this month when it posted its fiscal 1999 and fourth quarter (end-October) results. After more than a year of financial problems that included restating its revenues for the past three
Nuclear medicine vendor ADAC Laboratories reported mixed results this month when it posted its fiscal 1999 and fourth quarter (end-October) results. After more than a year of financial problems that included restating its revenues for the past three years (SCAN 12/16/98), the Milpitas, CA, company rebounded somewhat to show healthy sales increases for the period, posting revenues of $342.1 million for the year, a 14% climb from 1998s $300.5 million. For the fourth quarter, however, ADACs revenues dipped from $88.8 million in 1998 to $84.8 million.
During fiscal 1999, ADAC reported restructuring charges of $4 million, a research and development charge of $1.4 million, and other non-ordinary charges and expenses of $29.7 million. With the charges, ADAC posted a net loss for the year of $33.6 million; without the charges, the company posted a net loss of $6.6 million. In comparison, ADAC recorded net income of $7.4 million in fiscal 1998. Net income for the fourth quarter was $600,000, compared with net income of $4.1 million in the same period last year.
Can Innovations with AI Help Address the Impact of Staffing Shortages on Radiology Workflow?
October 7th 2024While staffing shortages in radiology continue to persist after the COVID-19 pandemic, current and emerging innovations powered by artificial intelligence (AI) may help facilities navigate these challenges and mitigate rising costs of health care.
CT Study Links Pleural Effusion and Higher 30-Day Mortality Rates in Patients with COVID-19
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The Reading Room: Racial and Ethnic Minorities, Cancer Screenings, and COVID-19
November 3rd 2020In this podcast episode, Dr. Shalom Kalnicki, from Montefiore and Albert Einstein College of Medicine, discusses the disparities minority patients face with cancer screenings and what can be done to increase access during the pandemic.
