Fourth quarter and year-end financial results for PET equipment maker CTI Molecular Imaging will not meet expectations. The company issued a profit warning Oct. 2, noting that earnings per share will range from 11¢ to 13¢ for the fourth quarter and 44¢
Fourth quarter and year-end financial results for PET equipment maker CTI Molecular Imaging will not meet expectations. The company issued a profit warning Oct. 2, noting that earnings per share will range from 11¢ to 13¢ for the fourth quarter and 44¢ to 46¢ for the full fiscal year. These are substantially lower than analysts' expectations of 20¢ for the quarter and 53¢ for the year. Costs associated with the acquisition of Mirada Solutions and, particularly, a shortfall in the number of scanner shipments-60 rather than the expected 66-were the principal causes, according to company officials. The deficit in shipments was due in part to delays imposed by the bankruptcy of DVI, the financial services firm that had helped fund the acquisition of scanners by CTI customers. Softening prices for PET equipment, due to increasingly aggressive competition, also affected earnings negatively.
One day prior to the profit warning, Terry D. Douglass, Ph.D., stepped down as president and CEO of the company. He was replaced by Ronald Nutt, Ph.D., CTI cofounder and current president of CPS Innovations, a joint venture between CTI and Siemens. Nutt directed CTI's scanner research and development efforts during most of the company's 20-year history. Douglass will continue to set the strategic direction of the company as chairman of the board.
FDA Approves Fluorescence Imaging System for Detecting Residual Breast Cancer
April 18th 2024The combination of the optical imaging agent Lumisight and the fluorescence imaging device Lumicell Direct Visualization System, collectively known as LumiSystem, reportedly offers 84 percent accuracy with real-time detection of residual breast cancer after lumpectomy procedures.
Study of Ofatumumab for Multiple Sclerosis Shows 'Profoundly Suppressed MRI Lesion Activity'
April 17th 2024The use of continuous ofatumumab in patients within three years of a relapsing multiple sclerosis diagnosis led to substantial reductions in associated lesions on brain MRI scans, according to research recently presented at the American Academy of Neurology (AAN) conference.
Could a Deep Learning Model for Mammography Improve Prediction of DCIS and Invasive Breast Cancer?
April 15th 2024Artificial intelligence (AI) assessment of mammography images may significantly enhance the prediction of invasive breast cancer and ductal carcinoma in situ (DCIS) in women with breast cancer, according to new research presented at the Society for Breast Imaging (SBI) conference.