North American Scientific Reports Fiscal Third Quarter 2007 Results

North American Scientific Inc. has announced financial results for its fiscal third quarter ended July 31. For the third quarter of fiscal 2007, the company reported revenues of approximately $3.4 million, a net loss from continuing operations of approximately $3.0 million, or $0.10 per share, and a net loss of $10.7 million, or $0.36 per share, including the discontinued operations of the NOMOS & #381; Radiation Oncology business. “While our gross profit margin in the third quarter was impacted by increased radioisotope material spoilage costs, we do not expect these costs to continue in the future,” said John B. Rush, President and Chief Executive Officer of North American Scientific. “We expect gross profit margins to improve over time as we increase sales, particularly as we ramp up sales of our ClearPath & #153; breast brachytherapy devices.” The company has divested its NOMOS Radiation Oncology business and is now reporting that business as a discontinued operation. “This transaction significantly reduces our cash burn, and therefore represents an important milestone for the company as we restructure and drive the organization towards financial health,” continued Mr. Rush. “The next step in this process involves completing an equity financing to fund operations and the launch of the ClearPath product line for breast brachytherapy.”