Imaging services provider Miracor Diagnostics reported a downturn in both revenues and losses for its fiscal 2006 third quarter.
For the period (end-September 30), the San Diego-based firm posted net revenue of $4.1 million, a 15.9% decrease compared to net revenue of $4.8 million for the same period in 2005. The quarter was also not kind in terms of profitability; Miracor showed a net loss of $692,000 compared with net income of $6,000 recorded in the third quarter of fiscal 2005.
The company noted that the net loss for the period includes $244,269 of goodwill that was written off. In addition, it said that it has undertaken an effort to restructure its debt, and has discontinued principal and interest payments to its secured and unsecured lenders.
By AuntMinnie.com staff writers
November 15, 2006
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