Fischer sales rise, red ink drops

April 29, 1998

Fischer Imaging may be pulling itself out of the doldrums. The Denver company on April 21 released results for its first quarter (end-March) that indicated an 11% increase in revenues and a sharp drop in the vendor's net loss. Fischer reported that

Fischer Imaging may be pulling itself out of the doldrums. The Denver company on April 21 released results for its first quarter (end-March) that indicated an 11% increase in revenues and a sharp drop in the vendor's net loss. Fischer reported that orders are increasing for its Mammotest breast biopsy table, and the firm's backlog is at a record level.

For the quarter, Fischer reported revenues of $13.7 million, compared with sales of $12.3 million in the same period the year before. Fischer's net loss was $1.1 million in the first quarter, compared with a net loss of $3.9 million in the first quarter of 1996.

Mammotest orders were driven by Fischer's new relationship with Johnson & Johnson's Ethicon Endo-Surgery division, with whom Fischer signed an OEM alliance in October (SCAN 10/29/97). In addition, Fischer expects to be able to file a 510(k) for its SenoScan full-view digital mammography system by June or July.

Another mammography-related project in the works at Fischer is a breast biopsy device designed to work with 1.5-tesla Signa MRI scanners manufactured by GE Medical Systems of Milwaukee. Fischer is working on the project with MR mammography researcher Dr. Steven Harms, director of MRI at the University of Arkansas in Little Rock. The device is still in investigational review, and Fischer plans to discuss with Harms the timetable for the release of a commercial product.