Finance

Medical oncology device company announces first quarter 2005 results

Published in Cancer Weekly, June 7th, 2005

RITA Medical Systems, Inc., (RITA) announced that growth in utilization and reorder rates in its core radiofrequency ablation (RFA) and specialty access catheter (SAC) businesses as well as continued strength in international channels, resulted in total sales for the first quarter ended March 31, 2005, of $11.2 million.

The company received an additional $200,000 in orders, which were backordered as of March 31, 2005, and will be shipped and recognized as revenue in the second quarter. Gross margins improved in the quarter to 57%, up sequentially from 54% in the 2004 fourth quarter. Gross margins reflect among other items $622,000 in merger related expenses included in...

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Source: Cancer Weekly (2005-06-07)

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