Growth in its transcription clinical documentation business helped power speech recognition and transcription technology developer M*Modal to record revenues in the first quarter (end-March 31).
Net revenues increased 6% to $117.4 million, compared with $111.2 million in the first quarter of 2011. The company's net loss was $2.9 million, compared with net income of $10.8 million in the first quarter of 2011. The company attributed the net loss to $11.1 million in acquisition and integrated-related costs and restructuring charges.
