Sales and profits fall at Fischer
Fischer Imaging chief executive Morgan Nields blamed "a radical restructuring"of theU.S. imaging equipment market for sales and profit declines in1994 for the Denver-based general radiography equipment manufacturer. Revenue for the year
Fischer Imaging chief executive Morgan Nields blamed "a radical restructuring"of theU.S. imaging equipment market for sales and profit declines in1994 for the Denver-based general radiography equipment manufacturer.
Revenue for the year ending Dec. 31, 1994, was $68.4 million,compared to $73.3 million in 1993. The company lost $5.6 millionin 1994 after reporting a break-even performance for the previousyear.
Fourth-quarter trends were also down. As revenue fell 5.6%to $18.3 million, Fischer posted a fourth-quarter loss of $980,000,compared to a profit of $462,000 for the same period of 1993.The downturn was attributed principally to delays in anticipatedoriginal equipment manufacturer shipments, caused by customer-requesteddesign changes in 1994, according to the company.
Nields linked Fischer's performance last year with an estimated30% revenue decline in $1 billion domestic diagnostic x-ray equipmentmarket in 1994.
"We believe the market is undergoing a continuing radicalrestructuring as providers and payors realign strategies in acompetitive marketplace," he said.
