Imagyn Expects Loss
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NEWPORT BEACH — Imagyn Medical Technologies Inc. expects to post a third-quarter operating loss of 60 cents to 65 cents a share on revenues of $23 million to $25 million.
Analysts had predicted the company would lose 27 cents a share in the latest quarter.
Imagyn attributed the lower-than-expected revenues to the delay in the market launch of several new product lines, which will now be released in the March quarter.
Competitive pressures for the company’s urology products and a longer than anticipated product evaluation cycle for the company’s surgical products also hurt revenues in the latest quarter. Several large orders were received late in the third quarter and could not be processed because of holiday shipping schedules.
Imagyn Medical Technologies, Inc. is a designer, manufacturer and marketer of urological, gynecological and general surgery medical products for the health care market.
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