Investors applaud ATL’s Q1 results
Ultrasound vendor ATL appears to be one of the few medical imaging firms these days to get an even break in the financial markets. Investors bid the Bothell, WA, company's shares higher on April 24 after the company released financial results that
Ultrasound vendor ATL appears to be one of the few medical imaging firms these days to get an even break in the financial markets. Investors bid the Bothell, WA, company's shares higher on April 24 after the company released financial results that indicated a 6% increase in revenues, although net income was reduced due to expenses associated with the launch of its new HDI 1000 scanner. ATL's stock jumped $3.88, or 13%, to close at $33.25 on April 24.
For the quarter (end-March), ATL had revenues of $100.1 million, compared with $94.8 million in the second quarter of 1996. Net income stood at $2.1 million, compared with $3 million in the same period last year. ATL said that the results for the most recent quarter included launch expenses for HDI 1000, and that it expected launch expenses of $2 million to $4 million in the second quarter.
HDI 1000 uses software in place of hardware to save costs in system manufacturing (SCAN 3/5/97). Orders for the scanner are exceeding expectations, according to Dennis Fill, chairman and CEO. HDI 1000 will begin shipping this quarter.
