OEC turns in healthy 1998 results
Mobile C-arm manufacturer OEC Medical Systems of Salt Lake City posted robust numbers for fiscal 1998 (end-December). The company's fourth-quarter revenues climbed 19%, from $45.3 million in 1997 to $53.7 million. The company's net income for the fourth
Mobile C-arm manufacturer OEC Medical Systems of Salt Lake City posted robust numbers for fiscal 1998 (end-December). The company's fourth-quarter revenues climbed 19%, from $45.3 million in 1997 to $53.7 million. The company's net income for the fourth quarter was $4.7 million, increasing over 1997's $3.7 million.
Revenue for the year increased 21%, reaching $188.7 million, compared with $155.4 million the year before. OEC's net income for the year was $16.1 million versus $12.2 million last year, a 32% increase. OEC said it recorded healthy gains in both product sales and service revenue.
In other OEC news, the company on Jan. 15 chose Picker International Canada as its Canadian distributor. The appointment followed the respective purchases by Picker and General Electric Medical Systems' of Elscint Canada's CT and nuclear medicine businesses (SCAN 12/16/98 and 9/16/98). Elscint Canada was OEC's former Canadian distributor.