M*Modal posts record revenues in Q1

Growth in its transcription clinical documentation business helped power speech recognition and transcription technology developer M*Modal to record revenues in the first quarter (end-March 31).

Net revenues increased 6% to $117.4 million, compared with $111.2 million in the first quarter of 2011. The company's net loss was $2.9 million, compared with net income of $10.8 million in the first quarter of 2011. The company attributed the net loss to $11.1 million in acquisition and integrated-related costs and restructuring charges.

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