Computer-aided detection (CAD) firm Medipattern of Toronto has reported a drop in sales and an increased net loss for its most recent fiscal year (end-June 30).
For the year, the company said that revenue totaled $229,000 Canadian ($213,000 U.S.), compared with $801,000 ($744,000 U.S.) in the previous year. Operating expenses in fiscal 2009 totaled $4.10 million ($3.81 million U.S.), compared with $4.33 million ($4.03 million U.S.) in 2008.
The net loss for fiscal 2009 totaled $4.24 million ($3.94 million U.S.) versus $3.53 million ($3.28 million U.S.) for the same period the previous year.
The company said that the lower results were due in part to the introduction of B-CAD-For-Life, a new sales model that bundles B-CAD software, seat licensing, and hardware, as well as training, installation, and maintenance costs, into one flat monthly fee. Full rollout of this approach is scheduled to begin in November 2009, and the firm expects it to generate significant revenue in fiscal 2010.
Related Reading
Medipattern raises additional capital, October 15, 2009
Medipattern closes private placement, September 3, 2009
Medipattern nets New York deal, June 24, 2009
Medipattern to complete private placement, June 11, 2009
Revenue down in Medipattern's Q3, May 27, 2009
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