ADAC Laboratories posted a 19% increase in revenues for its fourthquarter (end-October), the Milpitas, CA, company reported lastweek. Operating income was also higher, although net income wasaffected due to accounting changes related to the company's
ADAC Laboratories posted a 19% increase in revenues for its fourthquarter (end-October), the Milpitas, CA, company reported lastweek. Operating income was also higher, although net income wasaffected due to accounting changes related to the company's changein income-tax status.
ADAC's fourth-quarter revenues for the most recent period were$50.2 million, compared to $42.4 million in the same period of1994. Operating income increased 45% to $5.1 million, althoughyear-to-year net income comparisons are difficult because thevendor's net income in 1994 was impacted by one-time charges relatedto litigation with Elscint and credits due to an income tax benefit.
ADAC had net income of $2.8 million in the most recent quarter,compared to net income of $6.4 million in the same period lastyear. If last year's charges and credits were excluded and thevendor had been taxed in that quarter at this year's rate of 35%,ADAC would have had net income in 1994's fourth quarter of $2.2million. ADAC's tax rate changed from the low 20% range in 1994to 35% this year due to the expiration of tax credits relatedto losses the company experienced in the 1980s.
For the year, ADAC reported revenues of $184.8 million, up 5%compared to $176.3 million in sales in 1994. Net income for 1995was $11.1 million, compared to last year's net income of $17.5million. ADAC would have recorded net income for 1994 of $12.9million if tax credits and nonrecurring charges were excluded.
As previously reported, ADAC experienced a 33% gain in bookingsfor the quarter, to a company-record $64 million.
The Reading Room Podcast: Current Perspectives on the Updated Appropriate Use Criteria for Brain PET
March 18th 2025In a new podcast, Satoshi Minoshima, M.D., Ph.D., and James Williams, Ph.D., share their insights on the recently updated appropriate use criteria for amyloid PET and tau PET in patients with mild cognitive impairment.
Study with CT Data Suggests Women with PE Have More Than Triple the One-Year Mortality Rate than Men
April 3rd 2025After a multivariable assessment including age and comorbidities, women with pulmonary embolism (PE) had a 48 percent higher risk of one-year mortality than men with PE, according to a new study involving over 33,000 patients.