Medical device firm ART Advanced Research Technologies of Montreal credits the transition to a direct distribution model for its increase in revenues in the second quarter.
For the period (end-June 30), revenues rose to $1.2 million (U.S.), compared with $41,951 for the same quarter a year ago. ART also reduced a net loss to $1.1 million, compared with a net loss of $3.2 million in the second quarter of 2007.
For the six-month period, revenues were $2.4 million, compared with $436,165 in the first half of 2007. The net loss improved to $2.4 million, compared with a net loss of $4.7 million in the same period a year ago.
ART noted that selling directly to its customers generates greater revenue per system sale than providing discounts to an exclusive distributor.
Related Reading
ART wins financing, August 7, 2008
ART appoints new chairman, May 28, 2008
ART revenues slide in 2007, March 31, 2008
ART sells first SoftScan, February 20, 2008
ART boosts Optix sales force, January 17, 2008
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