Fischer C-arm pact offsets lower revenue

Fischer Imaging's revenue is down as it prepares an FDA submission for its SenoScan full-field digital mammography system.Revenue decreased 3% to $13.7 for the first quarter of 2000 (end April 2) compared to $14.2 million for the first quarter of 1999. These figures do not include the sale of a $6.2 million technology license to GE Medical.

The deal with GE involves a Fischer design for a C-arm attachment for cardiology equipment. The license agreement says GE can manufacture the C-arm itself or outsource it to another company.

Fischer's net income for the first quarter of 2000 was $351,000 compared to a net loss of $2.4 million for the first quarter of 1999. These figures do not include income from the GE technology license sale.

Despite the 3% revenue decrease, Louis Rivelli, Fischer president and chief operating officer, said the company's net income for first quarter 2000 exceeded projections. He added that the quarter's operating expenses of $5.6 million were the lowest in five years.