The poor global economy hampered revenues for Canadian digital radiography firm Imaging Dynamics (IDC) in the third quarter (end-September 30).
The Calgary, Alberta-based company posted revenues of $1.7 million Canadian ($1.6 million U.S.) in the third quarter, down 19% compared with $2.1 million ($2 million U.S.) in the third quarter of 2008. Net loss was for the third quarter was $1.5 million ($1.4 million U.S.), compared with a net loss of $2.7 million ($2.6 million U.S.) in the same quarter last year.
Net losses improved, in part, to a 44% reduction in third-quarter expenses for sales and marketing, general and administrative, production and manufacturing, and research and development.
The firm's nine-month net loss decreased to $4.5 million ($4.3 million U.S.), compared with a net loss of $8.4 million ($8 million U.S.) in the same period of 2008. For the nine-month period, net revenues slipped to $8.3 million ($7.9 million U.S.), compared with $13.8 million ($13.1 million U.S.) in the same period a year ago.
Related Reading
IDC adds Indian orders, September 30, 2009
IDC signs distribution partner, September 24, 2009
IDC's sales slide, loss narrows in Q2, August 3, 2009
IDC promotes CFO, completes strategic review, July 7, 2009
IDC gets $1M credit line, June 10, 2009
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