Lunar revenues climb, but profit falls

Bone densitometry firm Lunar’s effort to grow revenues by targeting the physician office market is experiencing success. The Madison, WI, company enjoyed a 22% rise in revenues for its third quarter (end-September). Lower profit margins associated with the initiative resulted in declining net income for the firm, however.

For the quarter, Lunar recorded revenues of $22.8 million, compared with $18.7 million in the third quarter of 1997. Lunar’s net income for the third quarter of 1998 was $1.2 million, compared with $2 million in the third quarter of 1997. Lunar’s profit for the most recent quarter was also affected by a $580,000 charge for the settlement of patent litigation.