ATL's third-quarter sales and net rise
ATL is a company hitting on all cylinders, if one doesn't countthe legal arena. The Bothell, WA, ultrasound vendor this monthreported financial results for its third quarter (end-September)that show revenues and net income growing at a healthy pace.
ATL is a company hitting on all cylinders, if one doesn't countthe legal arena. The Bothell, WA, ultrasound vendor this monthreported financial results for its third quarter (end-September)that show revenues and net income growing at a healthy pace.
For the period, ATL posted revenues of $100.3 million, up 6%compared with $94.7 million in the third quarter of 1995. Netincome rose to $3.8 million, compared with a net loss of $742,000last year, when ATL took a one-time charge. The company's grossmargin rose to a record 49.1%, compared with 46.1% in the sameperiod last year.
ATL said both its HDI 3000 and Apogee 800 Plus scanners wereturning in strong sales. The company's revenue growth suggeststhat arch-rival Acuson's gains with its Sequoia platform are notcoming at ATL's expense. Sequoia sales were the engine behinda 24% increase in Acuson revenues (see story, page 1).
ATL's year-to-date profit numbers are not quite so rosy, however,due to a massive $29.6 million charge taken earlier this yearto pay for an unfavorable judgment in patent litigation with SRIInternational (SCAN 7/31/96). ATL is appealing the ruling.
For the first nine months of 1996, ATL has reported a net lossof $12.4 million on revenues of $293.7 million. This compareswith a net loss of $180,000 on sales of $280.4 million in thesame period a year ago.
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