Colorado MEDtech warns results below forecasts:
This article was originally published in Clinica
Colorado MEDtech has warned that its second-quarter results will be below analyst estimates. Revenues for the quarter will be only slightly higher than the previous period's $17.1 million. The company expects to have an operating loss of $700,000. The Boulder, Colorado company attributes the shortfall to unexpectedly high expenditure and delays in certain production projects. It concedes that the remaining two quarters of the year will also be affected. The company's figures include costs of around $250,000 relating to a hostile takeover attempt by HEI (see Clinica No 926, p 11).