Fischer Imaging returns to profitability

X-ray and mammography vendor Fischer Imaging is back in the blackthanks to its results for the second quarter (end-July), the Denver,CO, firm reported. Fischer attributed the improvement to a sharpincrease in international sales, fueled by a weak dollar and thecompany's increased focus in Europe, Asia and Latin America.

Fischer reported revenues for the quarter of $18.1 million,up slightly over $17.6 million in the second quarter of 1994.Net income was $397,000, compared to a net loss of $69,000 inthe same period a year ago.

For the year to date, Fischer is still running in the red.The company posted a net loss of $72,000 for the first six monthsof 1995 on sales of $34.7 million. Comparable figures for thesame period in 1994 were $34.6 million and a net profit of $32,000,respectively.

Fischer chairman and CEO Morgan Nields said that in additionto strength in international markets, Fischer has made stridesin manufacturing cost reduction and productivity. The low endof the U.S. x-ray market is showing signs of improvement, whilemammography system shipments are stable compared to last year,Nields said.

Fischer has also solidified its management team. The companyexperienced a number of management changes over the past yearthat concerned the investment community. With several recent personneladditions, including James Newcomb as CFO, Anthony DeCarolis asvice president of sales, and John Neugebauer as director of breastimaging, Fischer has the management team needed to move forward,Nields said.

"Although change always creates some anxiety, I believethe organization is capable of building the company through ournext phase of growth," he said.