POSC Positron Announces First Quarter Results Record Revenues; Increase 150% on Sa
es of Three Scanners
HOUSTON, May 19, 2003 (BUSINESS WIRE) -- Positron Corporation (OTCBB:POSC),
manufacturer of positron emission tomography ("PET") scanners, today announced
record revenues for the first fiscal quarter of 2003. Revenues for the three
months ended March 31, 2003 were $3.8 million, an increase of 150% compared to
revenues of $1.5 million for the same period in fiscal 2002. Net income
increased $524,000 to $13,000 for the three months ended March 31, 2003 compared
to a net loss of $511,000 for the same period in 2002.
Gary Brooks, CEO of Positron Corporation, said, "I am very pleased to announce
that revenues in the first quarter of 2003 were the best in Positron's history.
Strong revenue growth was driven by our three sales Health Imaging Services,
LLC, located in Cullman, Alabama, Lancaster Cardiology Medical Group located in
Lancaster, California, and the University of Texas - Houston Health Sciences
Center. Positron Corporation is gratified to have the medical community embrace
the benefits of PET technology and particularly our patented design and
proprietary cardiac software. Our goal is to continually increase revenues while
further developing PET products that enhance patient care."
Mr. Brooks continued, "Patients are increasingly seeking non-invasive, accurate
medical testing. Coronary artery disease is the largest killer of men and women
in the United States. As our population ages, we will be increasingly subject to
this deadly, but treatable disease. Therefore, we believe that cardiac PET will
be the next growth area. We are pleased that Positron Corporation is
particularly well-positioned in the cardiac PET market."
Positron Corporation is primarily engaged in designing, manufacturing, marketing
and supporting advanced medical imaging devices utilizing positron emission
tomography (PET) technology under the trade name POSICAM(TM) systems.
POSICAM(TM) systems incorporate patented and proprietary technology for the
diagnosis and treatment of patients in the areas of oncology, cardiology and
neurology. POSICAM(TM) systems are in use at leading medical facilities,
including the Hermann Hospital, Las Colinas Imaging Center, Hadassah Hebrew
University Hospital in Jerusalem, Israel, The Coronary Disease Reversal Center
in Buffalo, New York, Emory Crawford Long Hospital Carlyle Fraser Heart Center
in Atlanta, and Nishidai Clinic (Diagnostic Imaging Center) in Tokyo. Additional
information may be found at positron.com. |
