Faced with a lackluster economy and increased operating expenses, computer-aided detection (CAD) firm Medipattern of Toronto posted net losses in its third-quarter and nine-month financial reports for fiscal year 2009 (end-March 31).
Revenue in the third quarter of fiscal 2009 slipped to $19,025 Canadian ($16,742 U.S.), compared with $162,114 ($142,660 U.S.) in the same quarter of fiscal 2008. The company posted a net loss of $883,253 ($777,262 U.S.), compared with a net loss of $876,710 ($771,504 U.S.) in the same quarter a year ago.
For the nine-month period, revenue reached $167,460 ($147,364 U.S.), compared with $450,347 ($396,305 U.S.) in the same period in fiscal 2008. Medipattern also reported a net loss of $3 million ($2.6 million U.S.), compared with a net loss of $2.4 million ($2.1 million U.S.) for the same period last year.
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