• AI
  • Molecular Imaging
  • CT
  • X-Ray
  • Ultrasound
  • MRI
  • Facility Management
  • Mammography

GE cutoff hurts Star's annual results

Article

The termination of a CT component supply contract between StarTechnologies and GE Medical Systems has resulted in a major dropin revenues for Star. The Sterling, VA, company reported financialresults for fiscal 1996 (end-March) that indicated revenues

The termination of a CT component supply contract between StarTechnologies and GE Medical Systems has resulted in a major dropin revenues for Star. The Sterling, VA, company reported financialresults for fiscal 1996 (end-March) that indicated revenues of$4.3 million, compared with $21.6 million the year before, whenthe agreement was still in effect. Star posted a loss of $4 millionfor the year, compared with net income of $1.2 million in 1995.

Star had been supplying GE with CT image reconstruction processorsuntil early 1995, when GE terminated the relationship. A disputebetween the companies went to an arbitration panel, which awardedStar $9.1 million (SCAN 3/27/96). GE is trying to have the rulingoverturned.

Star CEO Robert Compton said that 1996 was a transitional yearfor the company. The firm downsized in June 1995 and has beenworking with an investment banking firm to examine strategic opportunities,including acquisitions. It is also working to bring a new lineof image management products to market.

Recent Videos
Emerging Research at SNMMI Examines 18F-flotufolastat in Managing Primary and Recurrent Prostate Cancer
Could Pluvicto Have a Role in Taxane-Naïve mCRPC?: An Interview with Oliver Sartor, MD
New SNMMI President Cathy Cutler, PhD, Discusses Current Challenges and Goals for Nuclear Medicine
Where the USPSTF Breast Cancer Screening Recommendations Fall Short: An Interview with Stacy Smith-Foley, MD
A Closer Look at MRI-Guided Transurethral Ultrasound Ablation for Intermediate Risk Prostate Cancer
Improving the Quality of Breast MRI Acquisition and Processing
Can Fiber Optic RealShape (FORS) Technology Provide a Viable Alternative to X-Rays for Aortic Procedures?
Does Initial CCTA Provide the Best Assessment of Stable Chest Pain?
Making the Case for Intravascular Ultrasound Use in Peripheral Vascular Interventions
Can Diffusion Microstructural Imaging Provide Insights into Long Covid Beyond Conventional MRI?
Related Content
© 2024 MJH Life Sciences

All rights reserved.