Ultrasound technology developer Longport reported that the termination of a distribution contract with US MedSystems meant fewer sales and lower revenues for its third quarter (end-September 30).
Revenues slipped to $24,000, compared with $1.4 million in the third quarter of 2004. The Glen Mills, PA, firm reported a net loss of $437,000, compared with net income of $364,000 in the same quarter a year ago.
For the nine-month period, revenues declined to $601,000, compared with $1.9 million in the same period of 2004. The company reported a net loss of $992,000, compared with net loss of $317,000 in the same period a year ago.
By AuntMinnie.com staff writers
November 29, 2005
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