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ADAC struggles continue in Q3
An 8% increase in quarterly revenues wasn’t enough to restore ADAC Laboratories to profitability. The nuclear medicine and healthcare information systems vendor reported revenues of $75.6 million for the quarter (end-July 4), compared with revenues
An 8% increase in quarterly revenues wasnt enough to restore ADAC Laboratories to profitability. The nuclear medicine and healthcare information systems vendor reported revenues of $75.6 million for the quarter (end-July 4), compared with revenues of $69.8 million for the third quarter of 1998. Net loss for the quarter, however, was $5.4 million, compared with net income of $3.4 million in the same period a year ago. The unsatisfactory earnings report was the latest in a series of disappointments for the Milpitas, CA-based firm, which has been beset by a decline in nuclear medicine market share and an earnings restatement that took place in late 1998 (SCAN 8/4/99).
These financial results put ADAC out of compliance with its $75 million revolving credit facility, and the company is negotiating an amendment to the facility that will include a waiver of its third-quarter default as well as modified financial covenants that better reflect the companys current financial performance. As of Aug. 24, ADAC stock was trading at $6.31; slightly above its 52-week low of $5.75 but well below its high of $22.75. Revenues are expected to rise again in the fourth quarter, according to Andrew Eckert, ADAC chairman and CEO.
New Study Assesses Benefits of High-Resolution Photon-Counting for Computed Tomography Angiography
October 10th 2024Researchers found that ultra-high resolution photon-counting significantly enhanced visualization of small vessels and facilitated improved reduction of blooming artifacts for head and neck computed tomography angiography (CTA) scans.
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.
FDA Clears Software for Enhancing CCTA Assessment of Atherosclerosis
October 1st 2024Through analysis of coronary computed tomography angiography (CCTA) images, the PlaqueIQ software provides quantification and classification of atherosclerosis, a common cause of myocardial infarction (MI) and ischemic stroke.
CT Study Links Pleural Effusion and Higher 30-Day Mortality Rates in Patients with COVID-19
October 1st 2024In a multicenter study of over 1,100 patients with COVID-19, pleural effusion was detected on CT scans in nearly a third of patients, who also had significantly higher ICU admission and 30-day mortality rates.
