Radiation therapy firm TomoTherapy of Madison, WI, posted its second quarter (end-June 30) financial results and announced a contract with a Swedish hospital.
For the period, the company reported revenues of $52 million, an increase of 19% from $43.7 million in the second quarter of 2007. Net loss for the quarter was $6.9 million, compared to a pro forma net loss of $700,000 for the same period last year.
In addition, TomoTherapy removed orders totaling approximately $53 million from its backlog, which it attributed to economic issues, uncertain timing of shipments to its Japanese distributor, and the loss of two customers.
For the six months ending June 30, TomoTherapy reported revenues of $90.9 million, a 4% decrease from $94.9 million for the six months ended June 30, 2007. The net loss for the period was $13 million, compared to a pro forma net income of $3.2 million in 2007.
The company also announced a contract with Lund University Hospital in Sweden for its Hi-Art treatment system, which performs intensity-modulated radiation therapy.
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