Anthony and thread,
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Thursday August 6, 10:29 pm Eastern Time
Integrated Q2 loss widens, cites Viagra
LENAXA, Kan., Aug 6 (Reuters) - Integrated Medical Resources Inc., the nation's largest operator of male impotence therapy clinics, said its second quarter loss widened, in part because of new patients seeking the impotence treatment Viagra rather than diagnostic services.
''Viagra's release caused what the company believes to be a transient but significant influx of new patients seeking Viagra but not wishing to pursue a diagnosis for their symptoms of impotence,'' the company said in a statement.
''The decline in diagnostic revenue was partially offset by a significant increase in recurring revenue, also resulting from the introduction of Viagra,'' the company said
Integrated lost $3.97 million, or $0.46 a share, in the second quarter, more than double last year's loss of $1.35 million, or $0.20 a share.
Integrated said diagnostic testing is starting to return to ''pre-Viagra'' levels. Viagra is made by Pfizer Inc. (PFE - news).
''In retrospect, it is apparent that the company was not adequately prepared for the dramatic and largely unforeseeable effects of the initial Viagra phenomenon and, as a result, experienced a decrease in diagnostic revenue due to patients seeking Viagra without significant testing during that time,'' said Stanley Kardatzke, chairman and chief executive.
''More recently, with the publicity surrounding some of the isolated cases of severe complications that can result from improper use of Viagra, we have now seen our frequency of diagnostic testing return to more robust, pre-Viagra levels.,''
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Ibexx |
