ATI Medical Posts $290,800 Quarterly Loss
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ATI Medical Inc., a Glendale company that rents medical equipment to hospitals, reported a $290,800 loss for its fiscal first quarter, compared with a $792,364 profit a year earlier.
The loss in the quarter ended Oct. 31 came despite a 13% increase in ATI’s revenue, to $13 million from $11.5 million.
ATI blamed the loss on rivals’ price cutting in certain markets, and reduced orders during September in response to threatened health care cutbacks in the federal budget. “Volume improved dramatically in October following a congressional decision to keep that funding intact,” ATI said.
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