Speech recognition and transcription technology developer M*Modal saw higher revenues but lower net income in its second-quarter financial results (end-June 30).
Revenues for the second quarter of 2012 rose 7% to an estimated $116 million, compared with $108.4 million for the same period a year ago, the company reported. At the same time, however, net income fell to $3 million, compared with $5.1 million in the same quarter of the previous year.
The firm's adjusted net income for the second quarter of 2012 is expected to be $11.8 million, compared with $16.3 million in last year's second quarter.
