Speech recognition firm MedQuist on July 5 submitted to the U.S. Securities and Exchange Commission (SEC) its 10-K filing for three calendar years.
The report contains the Mount Laurel, NJ company's full-year and quarterly results for 2005, 2004, and 2003.
MedQuist has released only preliminary, unaudited quarterly financial information for 2006 and 2007. The company noted in the 10-K that those results are subject to change, pending anticipated adjustments and/or reclassifications from the completion of the financial assessment and review of MedQuist’s billing practices, the defense and resolution of certain class-action matters, and SEC and U.S. Department of Justice investigations.
In a written statement, MedQuist President and CEO Howard S. Hoffmann said this week's filing "is a major step towards MedQuist becoming up to date in its filings with the SEC." He added that the company expects to file its remaining outstanding SEC reports in the third quarter.
For all of 2005, MedQuist had net revenues of $353 million, compared with $451.9 million in 2004 and $484.8 million in 2003. The company also posted a net loss of $111.6 million in 2005, compared with net income of $3.7 million in 2004 and net income of $35.6 million in 2003.
By AuntMinnie.com staff writers
July 6, 2007
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