Elscint posts small gain for 1997

Article

Elscint's financial results for 1997 showed a slight profit as the Israeli company suffered from lower sales and tighter profit margins. Elscint was also affected by the devaluation of European currencies and its share of the net loss posted by its

Elscint's financial results for 1997 showed a slight profit as the Israeli company suffered from lower sales and tighter profit margins. Elscint was also affected by the devaluation of European currencies and its share of the net loss posted by its ELGEMS nuclear medicine joint venture with GE Medical Systems of Milwaukee.

For the year (end-December), Elscint recorded revenues of $303 million, down 3% compared with $311.4 million the year before. The Haifa company had a year-end profit of $709,000, compared with net income of $8.1 million the previous year. In the fourth quarter, Elscint had a net loss of $1 million on revenues of $80.4 million, compared with a net profit of $1.5 million on sales of $85.3 million in the fourth quarter of 1996.

Elscint cut expenses through 1997, and in the fourth quarter implemented a restructuring plan designed to cut additional costs and make the company more responsive to customers (SCAN 11/12/97). Elscint should begin to see the impact of that plan in 1998, although the effort adversely affected the company's fourth-quarter 1997 results, according to president and CEO Jonathan Adereth.

In other news, Elscint tapped a new CFO, naming Gaby Yankovitz to the position. Yankovitz replaces Yuval Yanai, who is leaving Elscint.

Recent Videos
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
Can AI Assessment of Longitudinal MRI Scans Improve Prediction for Pediatric Glioma Recurrence?
A Closer Look at MRI-Guided Adaptive Radiotherapy for Monitoring and Treating Glioblastomas
Incorporating CT Colonography into Radiology Practice
What New Research Reveals About Computed Tomography and Radiation-Induced Cancer Risk
Related Content
© 2025 MJH Life Sciences

All rights reserved.