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OEC reports strong Q3 earnings
Mobile C-arm manufacturer OEC Medical Systems of Salt Lake Cityreported healthy earnings for its third quarter (end-September),despite a slight drop in revenues for the period. The companyattributed the results to successful efforts to control costs.
Mobile C-arm manufacturer OEC Medical Systems of Salt Lake Cityreported healthy earnings for its third quarter (end-September),despite a slight drop in revenues for the period. The companyattributed the results to successful efforts to control costs.
For the quarter, OEC reported net income of $3.1 million onrevenues of $25.5 million. Net income rose 7% compared to the$2.9 million profit reported in the same period last year, whilerevenues dropped 7% compared to the $27.3 million in sales postedin last year's quarter.
OEC's year-to-date results are higher both in revenues andincome. The company has posted sales of $74.4 million in the firstnine months of 1995, compared to $69.9 million in the same periodlast year. Net income so far stands at $8.4 million compared to$5.6 million year-to-date in 1994.
OEC chairman, president and CEO Ruediger Naumann-Etienne saidsales in the most recent quarter were lower because of strongerthan expected revenue in last year's third quarter. That quarterbenefited from pent-up demand for OEC's flagship Series 9600 C-arm,which began shipping in the second quarter of 1994 after commercializationdelays.
Naumann said OEC has enjoyed particularly strong demand forits products in international markets, and OEC is on track todouble last year's global sales by year end. Its performance shouldimprove when two lower cost C-arms, Compact 7600 and Mini 6600,are introduced in coming months.
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