Computer-aided detection (CAD) software developer Medipattern of Toronto reported a significant increase in revenue for its first fiscal quarter of 2011, the company announced.
For the quarter (end-September 30, 2010), revenue was $33,000 U.S., compared with $2,000 for the first quarter of 2010. Licensing fees totaled $16,000, compared with $2,119 for the same period a year ago.
Medipattern continued to reduce its net loss for the quarter, which was $559,000 compared with $699,000 for the first quarter of 2010.
However, the results for the first quarter remain much weaker than the company anticipated, due mainly to the ongoing reimbursement concerns in the U.S., the company said.
Related Reading
Medipattern grows revenue in FY 2010, October 29, 2010
Medipattern awarded U.S. patent, September 22, 2010
Medipattern unwraps 3D US software, June 9, 2010
Medipattern posts net loss in Q3, May 28, 2010
Medipattern nets more financing, May 18, 2010
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