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.
European Society of Breast Imaging Issues Updated Breast Cancer Screening Recommendations
April 24th 2024One of the recommendations from the European Society of Breast Imaging (EUSOBI) is annual breast MRI exams starting at 25 years of age for women deemed to be at high risk for breast cancer.
Study Reveals Benefits of Photon-Counting CT for Assessing Acute Pulmonary Embolism
April 23rd 2024In comparison to energy-integrating detector CT for the workup of suspected acute pulmonary embolism, the use of photon-counting detector CT reduced radiation dosing by 48 percent, according to newly published research.