The economic slowdown and a lack of licensing fees contributed to reduced revenue for computer-aided detection (CAD) firm Medipattern of Toronto in the second quarter of fiscal 2010 (end-December 31, 2009).
Revenue slipped to $16,000 Canadian ($15,000 U.S.) and $18,000 Canadian ($17,000 U.S.) in the second quarter and first half of fiscal 2010, respectively, versus $72,000 Canadian ($58,000 U.S.) and $148,000 Canadian ($141,000 U.S.) for the corresponding periods in 2008.
Net loss decreased, however, to $796,000 Canadian ($758,000 U.S.) for the quarter, compared with $1.06 million Canadian ($1 million U.S.) in 2008. For the six-month period, net loss was $1.51 million Canadian ($1.4 million U.S.), compared with $2.17 million Canadian ($2.1 million U.S.) for the previous year, the company said.
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