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Other headlines:Virtual Radiologic revenues grow 23% in 1QVarian unveils brachytherapy applicator for bronchial cancerCoActiv signs reseller for NY/NJ
Teleradiology provider Virtual Radiologic worked harder and made more in the first quarter ended March 31. Revenues grew 23% over the year-earlier period to $28.6 million on a 30% increase in read volume. The company achieved a net income of $1.4 million, down from $2 million one year earlier. Cash and investments totaled $33.1 million at quarter's end with no debt. Read volume grew on a 25% increase in the number of hospitals and medical facilities served. As of March 31, the company was interpreting studies from 1050 medical facilities, which include about 17% of all U.S. hospitals.
Preliminary quarterly results released earlier this month by SonoSite proved correct, as the company reported $51.8 million in revenue for the quarter ended March 31, a 1% overall drop in revenue due to headwinds from a global recession and unfavorable currency exchanges for the Bothell, WA, company. Net income was $863,000 compared with $190,000 in the year-earlier period. Total U.S. revenue grew 5% to $23.2 million, but hospital sales were down 14%. International sales were down 6% to $28.6 million due primarily to a 14% drop in foreign currency exchange rates. On a constant currency basis, international sales were up 8%.
A new brachytherapy applicator set from Varian Medical Systems promises to increase treatment precision and comfort for patients with bronchial cancer. The newly introduced Centering Intraluminal Applicator set, which works with Varian's GammaMed and VariSource brachytherapy afterloaders, treats the trachea, main bronchus, and esophagus. The applicator centers the radiation source in the lumen of the trachea or the bronchus, while maintaining a channel for air.
Brachytherapy products are also among technologies the company is showcasing for the treatment of prostate cancer at the American Urological Association meeting April 25 to 30 in Chicago. The company is focusing attention on high-dose-rate brachytherapy, planning for low-dose brachytherapy with permanent seed implants, 3D conformal radiotherapy, intensity-modulated radiotherapy, and stereotactic body radiotherapy.
NY Imaging Service of Newburgh, NY, will distribute CoActiv's Exam-PACS, Exam-Vault Quad-Redundant Archiving, and related digital image management products in the New York and northern New Jersey regions. The distributor has already completed nine sales of these products.