Norland Q2 sales rebound over first quarter

Bone densitometry manufacturer Norland Medical Systems saw its second-quarter revenues more than double compared with the first quarter of this year, but sales were still lower than in the second quarter of 1997. The White Plains, NY, company enjoyed a 135% second-quarter increase in revenue over first quarter of the year, with sales of $4.8 million. That figure, however, fell 6% short of the $5.1 million in sales that the company recorded in the second quarter of 1997.

Norland reported a net loss for the quarter of $1.5 million, compared with net income of $195,000 in the second quarter of 1997. Although revenues are still lower than last year's levels, the company said that sales are rebounding for both peripheral and axial dual-energy x-ray absorptiometer (DEXA) products. Norland also reported healthy demand for its new Apollo DXA peripheral scanner (SCAN 6/10/98), although that system was not released in time to contribute much to the company's second-quarter results. Norland executives say the firm has sold more Apollo systems since the product's introduction than any other of its peripheral units.

Norland's revenue rebound was overshadowed by a pending decision from the NASDAQ Stock Market's delisting hearing panel on the company's market eligibility. Norland has run afoul of the exchange's $4 million net tangible assets requirement. The company met with the delisting panel on July 29 and is awaiting a decision on its NASDAQ status.