Net revenues slipped to $81.3 million, compared with $82.5 million in the third quarter of 2007. MedQuist's net loss lessened to $5.8 million, compared with a net loss of $8.9 million in the year-ago quarter.
The third-quarter net loss includes a charge of $5.9 million related to a tentative settlement of the U.S. Department of Justice's (DOJ) investigation of the company. The DOJ and the company have reached a tentative agreement to settle the DOJ's civil investigation for a payment of $6.8 million, of which $900,000 was previously recorded.
For the nine-month period, MedQuist's net revenues declined 5% to $247.5 million, compared with $260.3 million in the same period of 2007. The firm's net loss increased to $8.3 million, compared with a net loss of $4.9 million in the same nine months of 2007.
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