OEC records strong sales growth in 1996

February 5, 1997

Mobile C-arm developer OEC Medical Systems enjoyed a healthy 1996,thanks to strong sales across nearly all its product lines. TheSalt Lake City company experienced 26% revenue growth, and operatingincome improved as well.For the year, OEC posted revenues

Mobile C-arm developer OEC Medical Systems enjoyed a healthy 1996,thanks to strong sales across nearly all its product lines. TheSalt Lake City company experienced 26% revenue growth, and operatingincome improved as well.

For the year, OEC posted revenues of $128 million, compared with$101.5 million in fiscal 1995. Net income for the year was $12.9million, compared with $11.8 million in 1995.

The net income figures hide much of the improvement in OEC's operatingprofit, because OEC was taxed at a lower rate for the first threequarters of 1996 due to net operating loss carryforwards thatexpired at the end of the third quarter. Operating income beforetaxes for the year was up 32% from the year before.

Sales of OEC's Series 9600, Mini 6600, and Uroview 2600 productswere all strong, according to president, chairman, and CEO RuedigerNaumann-Etienne. The company's Compact 7600 system recovered froma slow start early in the year to finish well, he said.

In other OEC news, the company last month signed a deal with CardioThoracicSystems of Cupertino, CA, to install OEC's new Series 9600 Cardiacsystem in CardioThoracic's Comprehensive Optimal RevascularizationInstitute Training Centers. The COR centers are designed to trainsurgical teams in conducting minimally invasive direct coronaryartery bypass (MIDCAB) surgery using CardioThoracic's products.

The MIDCAB procedure is a less invasive method of conducting coronaryartery bypass procedures, and enables surgeons to access diseasedcoronary arteries through a small incision in the chest whilethe heart is still beating.

The Series 9600 Cardiac C-arm will be used to guide and positioncatheters and other devices, as well as to perform a postproceduralcoronary angiogram to confirm results before the patient leavesthe operating room, according to Larry Harrawood, OEC vice presidentof marketing and business development.