Bone densitometry developer CompuMed reported lower revenues but a reduced net loss for fiscal 2003.
The Los Angeles company said the drop was due in part to a shift in the company’s strategy to an OEM model for its OsteoGram software.
For the year (end-September 30), CompuMed reported revenues of $1.8 million, down 8% from reported sales of $2 million in fiscal 2002. The company’s net loss was $375,000, compared to a net loss of $494,000 in the previous year. The company had $247,000 in cash and marketable securities on hand as of September 30.
Revenues in CompuMed’s electrocardiogram product line fell from $1.7 million to $1.6 million. OsteoGram sales dropped from $121,000 to $81,000 as the firm shifted from selling the software as a PC application to a new model based on incorporating it into digital x-ray equipment from other companies as a value-added component.
The company’s new business model for OsteoGram is built around a new DICOM-based version of the software that was launched at this month’s 2003 RSNA meeting.
By AuntMinnie.com staff writersDecember 30, 2003
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