Picker notches strong profit growth

August 5, 1998

Multimodality vendor Picker International's 1998 financial results indicated double-digit growth rates for both revenues and profits, the Cleveland company reported last month. The company posted revenue of $1.24 billion for fiscal 1998 (end-March), up

Multimodality vendor Picker International's 1998 financial results indicated double-digit growth rates for both revenues and profits, the Cleveland company reported last month. The company posted revenue of $1.24 billion for fiscal 1998 (end-March), up 11.5% compared with sales of $1.1 billion for fiscal 1997. Picker's equipment order backlog increased by 20%.

Profits before tax also climbed, at a rate of 19%, although Picker is not required to release specific net income numbers because it is a subsidiary of General Electric Company (GEC) of the U.K. Picker executives attributed the strong growth to the rebound in the medical imaging market, as well as new products released in 1997, overseas growth, and expanded services and businesses.