Lunar results show moderate growth

Bone densitometry firm Lunar of Madison, WI, released financial results for its fourth quarter (end-June) that showed a respectable 9% increase in revenue. The company appears to have enjoyed a slightly better quarter than competitor Hologic, which saw its revenues climb only 3%.

For the quarter, Lunar had revenues of $22.2 million, compared with $20.3 million in the fourth quarter of 1996. The company enjoyed net income of $3.6 million, compared with a profit of $3.1 million in the same period of 1996. For the year, Lunar had sales of $81.5 million, up 22% compared with $66.9 million in 1996. The company finished fiscal 1997 with a net profit of $14.3 million, compared with net income of $9.2 million the year before.

Lunar president Dr. Richard Mazess reported that the company is enjoying continued strong demand for its DPIX-IQ x-ray densitometer, particularly in the U.S. The company said that sales of its Artoscan MRI systems and Orca mini-C-arms increased as well, with revenues from both these product lines climbing 42% to $9.1 million for the year.