ATL revenues up, net loss drops

November 9, 1994

Ultrasound vendor Advanced TechnologyLaboratories reported higher revenues for its third quarter (end-September),but ended the quarter with a net loss due to higher operatingexpenses associated with product introductions such as the company'snew HDI 3000

Ultrasound vendor Advanced TechnologyLaboratories reported higher revenues for its third quarter (end-September),but ended the quarter with a net loss due to higher operatingexpenses associated with product introductions such as the company'snew HDI 3000 scanner.

ATL, of Bothell, WA, recorded third-quarter revenues of $87.3million, up 11% over the $78.6 million in the same period lastyear. The company had a net loss of $4.8 million in the quarterversus a net loss of $8.5 million in the third quarter of 1993.The 1993 results included a $4.3 million restructuring charge(SCAN 9/8/93).

The company's investment in new product development was reflectedin a 19% increase in R&D expenses, to $15.1 million. Salesand administrative costs rose 8% to $28.5 million due to the initialcosts of launching HDI 3000, as well as international expansionand the introduction of Interspec's Apogee products, which ATLacquired earlier this year (SCAN 2/16/94). Those products arebeginning to contribute to growth in ATL's international business.

For the first nine months of 1994, ATL had revenues of $261.5million and a net loss of $14.4 million, which includes one-timeexpenses of $5.4 million for the Interspec acquisition. In thesame period last year, ATL's revenues were $262 million and itsnet loss was $7.7 million.