Image-guided therapy developer IMRIS posted higher sales in the company's second quarter (end-June 30), although the company's net loss doubled.
For the period, IMRIS recorded sales of $18.9 million, up 14% compared with revenues of $16.6 million in the corresponding quarter of 2010. The company said the growth was due to more installations, as well as the sale of higher-priced products compared to 2010.
The company posted a net loss of $2.9 million in the most recent period, compared with a net loss of $1.4 million in the second quarter of 2010. The higher net loss was due to planned increases in product development expenses, along with costs to support the company's growth, IMRIS said.
