IRadimed Corporation Announces Second Quarter 2017 Financial Results
WINTER SPRINGS, Fla., July 28, 2017 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (NASDAQ:IRMD), a leader in the development of innovative magnetic resonance imaging (MRI) medical devices and the only known provider of non-magnetic intravenous (IV) infusion pump systems that are designed to be safe for use during MRI procedures, today announced financial results for the three and six months ended June 30, 2017.
For the second quarter ended June 30, 2017, the Company reported revenue of $5.5 million compared to $9.9 million for the second quarter 2016. Net income was $0.4 million, or $0.03 per diluted share, compared to net income of $2.2 million, or $0.19 per diluted share for the second quarter 2016. Gross profit margin was 77.7%, compared to 82.4% for the second quarter 2016. Domestic sales were 87.7% of total revenue, compared to 91.1% for the second quarter 2016. Revenue for the second quarter ended June 30, 2017 included $0.4 million in sales of our patient vital signs monitoring systems to international customers.
For the second quarter ended June 30, 2017, the Company reported revenue of $5.5 million compared to $9.9 million for the second quarter 2016. Net income was $0.4 million, or $0.03 per diluted share, compared to net income of $2.2 million, or $0.19 per diluted share for the second quarter 2016. Gross profit margin was 77.7%, compared to 82.4% for the second quarter 2016. Domestic sales were 87.7% of total revenue, compared to 91.1% for the second quarter 2016. Revenue for the second quarter ended June 30, 2017 included $0.4 million in sales of our patient vital signs monitoring systems to international customers.