ChromaVision Medical Systems Inc.
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The San Juan Capistrano manufacturer of automated microscope systems incurred a third-quarter net loss of $1.5 million, or 11 cents a share, compared with a net loss of $1.7 million, or 16 cents a share, for the comparable period in 1996. The company attributed the smaller loss primarily to interest income earned from investing proceeds from the company’s initial public stock offering.
For the nine months, the company posted a net loss of $4.9 million, or 40 cents a share, compared with a net loss of $2.4 million for the first three quarters of 1996. The company was incorporated on March 28, 1996, so the period ended Sept. 30, 1996, does not include a full nine months.
The company attributed the higher net loss to costs of moving the company to California, the increase in the number of personnel necessary to support the growth of the company and increased expenditures for research and development.
ChromaVision did not break out revenue figures for the third quarter or nine months. The company said it has generated total revenue of $1.2 million since April 1, 1993.
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