Canadian RIS/PACS developer Evolved Digital Systems reported first-quarter revenues of $3 million (U.S.), down 24.4% compared with the $4 million posted in the first quarter of 2004. For the period (end-March 31), the Montreal, Quebec-based firm had a net loss of $942,000, compared with a net loss of $598,000 last year.
Evolved attributed the revenue decline primarily to projected customer turnover resulting in reduced technology services and transcription revenue, as well as to the timing of equipment sales. These declines were partially offset by an increase in revenue from new software license fees, Evolved said.
Evolved said it's beginning to experience an increase in sales momentum, with nearly $452,000 in new software license fees during the first quarter of 2006. These include an OEM agreement, as well as new customer agreements and the recent completion of two significant renewals, according to the firm.
By AuntMinnie.com staff writers
May 11, 2006
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