Lower prices for its transcription services and declining maintenance revenues adversely affected net 2009 revenues for speech recognition and transcription technology provider MedQuist of Mount Laurel, NJ.
For the 12-month period, the company reported net revenues of $307.2 million, down 6% from $326.9 million in 2008. Net income reached $23.3 million, compared with a net loss of $68.8 million in 2008.
Net revenues for the fourth quarter fell to $73.9 million, a decline of $5.5 million from $79.4 million in the fourth quarter of 2008. MedQuist posted net income of $5.9 million in the fourth quarter, compared with a net loss of $60.5 million in the fourth quarter of 2008.
Related Reading
MedQuist nets DMC contract, March 9, 2010
MedQuist teams with Epic, February 26, 2010
MedQuist to buy Spheris' U.S. assets, February 5, 2010
MedQuist highlights new directions for SpeechQ, December 1, 2009
MedQuist inks Clario reseller pact, October 14, 2009
Copyright © 2010 AuntMinnie.com
