IMRIS reports revenue drop, net loss in 2011

Fewer installations due to changes in customer schedules adversely affected revenues for image-guided therapy developer IMRIS in 2011.

Revenues decreased to $51.8 million for 2011, compared with $70.3 million in 2010. The company also reported a net loss of $20.9 million last year, compared with a net loss of $1.7 million in 2010.

In the fourth quarter (end-December 31, 2011), revenues slipped to $14.7 million, compared with $24.8 million in the fourth quarter of 2010. The fourth-quarter net loss totaled $5.3 million, compared with net income of $1.9 million in the same quarter the previous year.

IMRIS cited increases in operating expenses for its product development efforts, along with increases in marketing, sales, and customer support, as contributing to its year-end and fourth-quarter net losses.