Imaging software developer Cedara Software reported a fourth-quarter loss of $7.3 million, compared with net income of $903,000 in the same quarter last year. The Mississauga, Ontario-based firm also posted a net loss of $6.7 million for fiscal 2000, down sharply from net income of $1.8 million in fiscal 1999. All monetary amounts are expressed in Canadian dollars.
Fourth-quarter revenues were $12 million, compared with $14.5 million for the same period last year. Meanwhile, fiscal 2000 revenues grew to $55.7 million, compared with $47 million in 1999.
The firm attributed the weak results to the challenges of building its early-stage image-guided therapy business, Surgical Navigation Specialists, the recent acquisition of Dicomit Imaging Systems, and other factors. At the same time, the company's core software and services business showed strong growth during fiscal 2000, Cedara said.
By AuntMinnie.com staff writersSeptember 15, 2000
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