Speech recognition and transcription technology provider MedQuist of Mount Laurel, NJ, reported in the company's financial results that revenues slipped for its first quarter (end-March 31) due to lower prices, although the firm's net income rose.
For the period, MedQuist posted sales of $74 million, down 6% compared to sales of $78.9 million in the corresponding quarter of 2009. The company said the lower sales were due to lower prices for transcription services and declining maintenance service revenues associated with the migration from legacy products at some customer sites.
Despite the drop, MedQuist posted net income for the most recent quarter of $7.3 million, compared with $6.8 million in the first quarter of 2009.
Related Reading
MedQuist completes Spheris acquisition, April 26, 2010
Court OKs MedQuist, CBay buy of Spheris, April 16, 2010
MedQuist revenues dip in 2009, March 15, 2010
MedQuist nets DMC contract, March 9, 2010
MedQuist teams with Epic, February 26, 2010
Copyright © 2010 AuntMinnie.com
