Medical informatics firm CompuMed reported a 17% decline in 2007 fiscal first-quarter revenues, as sales failed to keep pace with major one-time sales orders in fiscal 2006.
The Los Angeles-based firm had revenues of $539,000, compared with $651,000 a year ago. For the period (end-December 31), CompuMed had a net loss of $220,000, compared with a net loss of $41,000 in 2006.
Of the loss, $54,000 was due to noncash expenses related mainly to expensing of stock-based compensation, CompuMed said. The revenue declines were due primarily to the unique nature of the 2006 first quarter, which included major one-time sales of ECG equipment and the signing of new OsteoGram OEM partners, said CEO Jerry McLaughlin.
The company said it expects to exhibit growth as the year progresses and its partners deliver on their licensing agreements.
By AuntMinnie.com staff writers
February 15, 2007
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