Lorad continues record sales pace
Despite recessionary pressures, Lorad counts 1994 as another record year, with revenue growthin excess of 45%. The Danbury, CT, mammography equipment manufacturerreported sales of $55 million for the fiscal year ending Dec.31, compared to $37.5 million
Despite recessionary pressures, Lorad counts 1994 as another record year, with revenue growthin excess of 45%. The Danbury, CT, mammography equipment manufacturerreported sales of $55 million for the fiscal year ending Dec.31, compared to $37.5 million in 1993, according to chief executiveHal Kirschner.
The firm's financial contribution to parent company ThermoThrexalso increased substantially, Kirschner said.
Lorad reported growth in all segments, but Kirschner attributedparticular strength to sales of the StereoGuide prone breast biopsysystem and its DSM digital spot mammography option. Unit and dollarsales increased considerably last year, he said.
"We also had nice growth in domestic mammography sales,as well as 100% increase in sales overseas of products sold byboth Lorad and our OEM partner Philips," he said.
Lorad was a key contributor to a spectacular year for ThermoThrex.Revenue generated in 1994 by the diversified imaging and opticalinstrument group increased 67% to $91 million.
Income growth was off the chart. The San Diego-based subsidiaryof Thermo Electron reported profits of $9.6 million compared to$495,000 in the previous year.
Kirschner sees strong signs of continued growth for Lorad thisyear. Sales bookings in January and February reached all-timehighs.
"That indicator, coupled with our strong backlog, willhelp us continue the compounded 40% annual growth pattern we'vemaintained in the past four years," he said.
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