NORTH HOLLYWOOD, Calif.--(BUSINESS WIRE)--March 17, 1998--North American Scientific Inc. (Nasdaq:NASI) Tuesday announced that net sales for the first quarter, ended Jan. 31, 1998, decreased 2 percent to approximately $820,000, compared with $839,000 for the comparable 1997 period.
Net income decreased to $42,000, or 1 cent per share, from net income of $77,000, or 3 cents per share, in the same fiscal 1997 period.
President and Chief Executive Officer L. Michael Cutrer said: "We began to generate revenue from our new I-125 brachytherapy line in January, the last month of the quarter. First-quarter expenses were increased by significant R&D and other start-up costs associated with the brachytherapy line, as well as waste disposal costs associated with several years of operation."
Cutrer concluded: "Manufacturing capacity associated with our new I-125 brachytherapy line continues to increase, and we anticipate that sales in this sector will be a significant part of our second-quarter sales numbers."
North American Scientific manufactures and markets a broad line of low-level radioactive sources and standards for medical therapeutic, scientific and industrial uses. |
