Continuing investments in sales pushed Canadian digital radiography developer Imaging Dynamics (IDC) into the red in 2006.
For the year (end-December 31), the Calgary, Alberta-based vendor had net revenues of $39 million Canadian ($33.7 million U.S.), up 35% compared with the $28.9 million ($24.9 million) booked in 2005. The company had a net loss of $14 million ($12.1 million), compared with net income of $1.3 million ($1.2 million) a year ago.
President and CEO Darryl Stein said that IDC focused its 2006 efforts on top-line sales growth, market share capture, and channel development, making significant investments in new products, geographies, and markets.
In 2007, IDC said it aims to reap the benefits of its 2006 investments, and is revamping its operations and infrastructure to support the sales engine it has created. In light of its decision to allow for completion of its internal restructuring and implementation efforts, IDC expects first-quarter revenue to be soft.
Within 60 days, however, IDC will be capable of delivering on its significant opportunities, Stein said.
By AuntMinnie.com staff writers
April 3, 2007
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