ATI Medical Reports Loss in 4th Quarter
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ATI Medical, a Glendale-based company that rents medical equipment to hospitals, reported a $353,000 loss for its fiscal fourth quarter, contrasted with year-earlier earnings of $664,000.
The loss in the three months that ended July 31 came despite a 22% gain in ATI’s revenue, to $12.4 million from $10.2 million. ATI blamed the loss on, among other things, start-up costs for its new home health care operation and softness in the equipment-rental market.
For its full fiscal year, ATI reported net income of $2.38 million on revenue of $49.7 million. The previous year, it earned $2.17 million on revenue of $39.1 million.
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