Remote Imaging Systems Expects Earnings Decline
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International Remote Imaging Systems, a Chatsworth maker of laboratory equipment, said it expects to report an earnings decline the first quarter ended March 31 compared to the same period last year. First quarter revenues are also expected to be down 20% from the same quarter last year.
The company blamed the slump on the Northridge earthquake and on curtailed sales due to severe winter weather across much of the country. The first-quarter projections contrast to record profits and sales reported for the fourth quarter and the year ended Dec. 31.
The company also said it has won clearance from the federal Food and Drug Administration for two new uses for its urine-testing instrument. The company said the FDA clearance could increase Yellow IRIS’s utilization by about 20% and make it easier for hospitals to justify spending up to $125,000 to buy one.
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