A decline in sales to the Asia-Pacific region contributed to a sharp drop in revenues for Canadian digital radiography vendor Imaging Dynamics (IDC) in its first quarter.
For the period (end-March 31), the Calgary, Alberta-based firm had net revenues of $934,000 ($912,000 U.S.), down 64% from the $2.6 million ($2.5 million U.S.) recorded in the first quarter of 2009. The company had a first-quarter net loss of $1.6 million ($1.5 million U.S), compared with a first-quarter net loss of $1.5 million ($1.5 million U.S.) a year ago.
The revenue decline was due primarily to results from the Asia-Pacific region, where orders have been pushed into the second and third quarters of 2010, according to the firm. IDC said it also experienced slower purchasing decisions in other regions.
In positive developments, president and CEO Tom Boon said that there were signs of improvement in the U.S. market in the past quarter. Also, the firm expects sales from Asia-Pacific will be on or above plan for the remainder of the year.
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