Lunar revenues climb, but profit falls

October 28, 1998

Bone densitometry firm Lunar’s effort to grow revenues by targeting the physician office market is experiencing success. The Madison, WI, company enjoyed a 22% rise in revenues for its third quarter (end-September). Lower profit margins associated

Bone densitometry firm Lunar’s effort to grow revenues by targeting the physician office market is experiencing success. The Madison, WI, company enjoyed a 22% rise in revenues for its third quarter (end-September). Lower profit margins associated with the initiative resulted in declining net income for the firm, however.

For the quarter, Lunar recorded revenues of $22.8 million, compared with $18.7 million in the third quarter of 1997. Lunar’s net income for the third quarter of 1998 was $1.2 million, compared with $2 million in the third quarter of 1997. Lunar’s profit for the most recent quarter was also affected by a $580,000 charge for the settlement of patent litigation.