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Caliber Imaging reports third-quarter revenues up, loss narrows

By ANDREA DECKERT - 11/11/2013 4:51:11 PM

Henrietta-based Lucid Inc., which does business as Caliber Imaging & Diagnostics, reported a smaller third-quarter loss than a year ago.

The company posted a net loss of $1.9 million, or 22 cents a share, compared with a net loss of $3.1 million, or 38 cents a share, a year ago. The smaller net loss largely was due to lower engineering and research and development expenses, the company said.

Sales were $691,732, up from $413,509 a year ago.

CEO Michael Hone said the company is building on new initiatives and products to expand its customer base.

“Based on the positive feedback we have been receiving from the medical community, at professional conferences and as a result of media exposure, I am confident that we are on the right track and will witness improvement in the months and years ahead," Hone said in a statement.

Founded in 1991 as Lucid, Caliber I.D. develops electro-optical products and instruments for medical applications. The 30-person company is perhaps best known for specializing in non-invasive skin cancer imaging with its advanced VivaScope technology.

The company’s shares (OBB: LCDX) Monday afternoon were trading at 75 cents, down from Friday’s close of $1. Their 52-week range is 25 cents to $1.55.

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