Evolved notches revenue gains

Canadian healthcare information technology provider Evolved Digital Systems reported first-quarter revenues of $2.9 million (U.S.), up 61% from the $1.8 million posted in the first quarter of 2003. For the quarter (end-March 31), the Montreal-based vendor had a net loss of $4 million, compared with a net loss of $6 million a year ago.

President and CEO John Southcott said that Evolved made plans during the quarter to exit the European market, focusing its direct sales efforts on the U.S. healthcare sector. The firm also introduced a combined radiology and cardiology digital image management system during the period, and began a fundamental restructuring of its costs.

By AuntMinnie.com staff writers
May 18, 2004

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