IVAX Diagnostics quarterly revenues rise 2.3%, company expects FDA clearance for Parsec in 2006

By Lisa Kerner

Charlotte, N.C., Aug. 11 - IVAX Diagnostics, Inc. said its second-quarter 2006 net revenues rose $119,000, or 2.3%, to $5.4 million, from the prior-year period.

The company had a net loss for the second quarter of $118,000, compared with net income of $155,000 for the second quarter of 2005.

"We are pleased that we achieved an increase in revenues over the same quarter from last year despite the unavailability of the Parsec System in the U.S. market place," chief executive officer and president Giorgio D'Urso said in a company news release.

"We remain optimistic about obtaining the required 510(k) clearance from the Food and Drug Administration for the Parsec System during 2006 and believe that this new laboratory automation system will have a significant impact once we have achieved its full commercial release."

In addition, IVAX is progressing toward its goal of using licensed technology to manufacture a panel of hepatitis assays at its Delta Biologicals facilities in Italy. The assays are expected to be run in conjunction with the Parsec System outside the United States, the company said.

Miami-based IVAX develops, manufactures and markets proprietary diagnostic reagents, instrumentation and software.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.