A focus on development of its Visualize:Vascular software was a factor in a sharp revenue decline for computer-aided detection (CAD) firm Medipattern in its fiscal 2012 first quarter.
For the period (end-September 30), Medipattern had revenue of $6,500 down 81% compared with the $33,000 reported in the first quarter of fiscal 2011. The company also posted a net loss of $653,00, compared with a net loss of $588,000 in the previous fiscal year's first quarter.
Subscription rental fees from its B-CAD-For-Life program accounted for all quarterly revenue, as the company said it focused its resources on completing development and commercialization of Visualize:Vascular, which rolled out on a limited basis in June.
