More worldwide installations helped computer-aided detection (CAD) firm Medipattern of Toronto advance revenues in its third quarter of fiscal 2008.
For the period (end-March 31), revenues increased 85% to $206,000 (U.S.), compared with $111,000 in the third quarter of 2007. The company's net loss also climbed to $804,000, compared with a net loss of $637,000 in the same period last year.
For the nine-month period, revenues rose 83% to $594,000, compared with $324,000 in the same period of 2007. The net loss increased to $2.3 million, compared with a net loss of $1.8 million in the same nine months of 2007.
The increased net losses were due, in part, to greater operating expenses for additional investment in research and development, as well as sales and marketing.
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