Lumisys issues warning on second-quarter results

July 1, 1998

Lumisys issues warning on second-quarter resultsFilm digitizer firm Lumisys warned that its second-quarter bookings have not been as strong as anticipated, and the firm will have lower revenues during its second quarter. It is expected that

Lumisys issues warning on second-quarter results

Film digitizer firm Lumisys warned that its second-quarter bookings have not been as strong as anticipated, and the firm will have lower revenues during its second quarter. It is expected that earnings, scheduled for release after the market closes on July 9, will be break-even to slightly positive for the period, said Craig Klosterman, COO and CFO.

Continuing to believe its stock is undervalued, the Lumisys board of directors has authorized an additional repurchase of 500,000 shares of its common stock. Lumisys repurchased 350,000 shares of common stock during the second quarter as part of an earlier stock buyback program.

In product news, Lumisys has released DICOM-compatible interface software, which can be incorporated across the company's entire family of Lumiscan film digitizers. The Windows NT-based interface, called DI-2000, generates DICOM 3.0 output of images, and provides support for DICOM 3.0 storage class user, storage class provider, and query/retrieve. It also supports lossless, lossy, and enhanced JPEG compression, as well as image transmission over a local area network, wide area network, or the Internet, according to the company. Royalty-free software will be provided to all trained and certified integrators and OEMs incorporating Lumisys digitizers into PACS and teleradiology networks, according to the Sunnyvale, CA-based company.