BTI’s net loss narrows in first quarter

Article

Magnetic source imaging developer Biomagnetic Technologies ofSan Diego reported a lower net loss for its first quarter of 1997(end-December), due to lower R&D costs. Revenues for the quarterwere up slightly, but did not include any systems sales

Magnetic source imaging developer Biomagnetic Technologies ofSan Diego reported a lower net loss for its first quarter of 1997(end-December), due to lower R&D costs. Revenues for the quarterwere up slightly, but did not include any systems sales becausethe company is still awaiting the completion of a hardware upgradebefore it can record revenue from eight installations of its newMagnes 2500 Whole Head system.

For the quarter, BTI posted revenue of $317,000, compared with$195,000 in the same period the year before. The firm's net lossfor the most recent quarter stood at $2.1 million, compared with$3.1 million in the first quarter of 1996.

BTI has been hit hard by a delay in shipments of its Magnes 2500WH system, and was forced to restructure in December as a meansof conserving cash until it begins recognizing revenue from Magnesshipments (SCAN 2/5/97). That will happen once final customeracceptances are received following the installation of a hardwareupgrade that was not anticipated at the time of shipment, accordingto the company.

There are eight Magnes 2500 WH systems installed worldwide, andBTI's backlog as of Dec. 31 stood at $16.2 million, compared with$12.1 million the year before.

Recent Videos
Improving Access to Nuclear Imaging: An Interview with SNMMI President Jean-Luc C. Urbain, MD, PhD
SNMMI: 18F-Piflufolastat PSMA PET/CT Offers High PPV for Local PCa Recurrence Regardless of PSA Level
SNMMI: NIH Researcher Discusses Potential of 18F-Fluciclovine for Multiple Myeloma Detection
SNMMI: What Tau PET Findings May Reveal About Modifiable Factors for Alzheimer’s Disease
Emerging Insights on the Use of FES PET for Women with Lobular Breast Cancer
Can Generative AI Reinvent Radiology Reporting?: An Interview with Samir Abboud, MD
Mammography Study Reveals Over Sixfold Higher Risk of Advanced Cancer Presentation with Symptom-Detected Cancers
Combining Advances in Computed Tomography Angiography with AI to Enhance Preventive Care
Study: MRI-Based AI Enhances Detection of Seminal Vesicle Invasion in Prostate Cancer
What New Research Reveals About the Impact of AI and DBT Screening: An Interview with Manisha Bahl, MD
Related Content
© 2025 MJH Life Sciences

All rights reserved.