Computer-aided detection (CAD) developer Medipattern posted considerably lower revenues for the third quarter and the nine-month period of fiscal 2012 (end-March 31).
The company said the lower results are because it could only count on subscription rental fees for both its Visualize:Vascular and B-CAD-For-Life. Subsequently, the company's sales for the third fiscal quarter decreased to $12,000, compared with $58,000 in the third quarter of fiscal 2011. The company's net loss for the third fiscal quarter was $743,000, compared with a net loss of $3 million in the same quarter of fiscal 2011.
Revenue for the nine-month period declined to $26,000, compared with $113,000 in the same nine-month period of fiscal 2011. In addition, the company reported a net loss of $871,000, compared with a net loss of $4.1 million in the same period of fiscal 2011. All amounts are in U.S. dollars.
Medipattern said that it continues to focus on its core R&D resources and on meeting its deadlines for completing final development and commercialization of its new vascular software Visualize:Vascular, which was rolled out on a limited basis in June 2011.
