Computer-aided detection (CAD) firm Medipattern of Toronto posted decreased revenues for its fiscal first-quarter results for 2009.
For the period (end-September 30), revenue was $76,000 Canadian ($62,000 U.S.) for the year, down 42% compared to $130,000 ($105,000 U.S.) for the same period in 2008. As no licensing fees were recognized during the quarter, all the revenue resulted from professional fees, compared to $88,000 ($71,000 U.S.) in the first quarter of 2008, according to Medipattern.
Total expenses rose 58% to $1.2 million ($972,000 U.S.), compared to $760,000 ($615,000 U.S.) in the same period in 2008, mostly as a result of increased sales and marketing costs, and administrative and product support costs, the company stated.
The firm's net loss for the first quarter rose 75% to $1.1 million ($890,000 U.S.) from $627,000 ($508,000 U.S.) in the first quarter of 2008.
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