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Lower results don't faze Lunar
Lunar's fourth-quarter financial results continue to reflect flat conditions in the bone densitometry market, as the Madison, WI-based company saw revenues decline 4% during its fourth quarter. For the period (end-June), revenues were $21.3 million,
Lunar's fourth-quarter financial results continue to reflect flat conditions in the bone densitometry market, as the Madison, WI-based company saw revenues decline 4% during its fourth quarter. For the period (end-June), revenues were $21.3 million, compared with $22.2 million in the same period last year. Net income was $1.4 million, compared with $3.6 million in 1997.
The company's year-end results also were down. For the year, revenues were $79.7 million, a dip of 2% compared with $81.5 million reported in 1997. Net income was $6.9 million, compared with $14.3 million last year.
Despite the flat year, president Dr. Richard Mazess is optimistic that sales will increase during the next fiscal year, thanks to the Health Care Financing Administration's recent reimbursement policy on densitometry, including ultrasound, for postmenopausal women (SCAN 7/22/98). The company has also been training sales representatives from its primary care distributors, McKesson General Medical and Caligor, over the last two months.
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