Canadian magnetoencephalography (MEG) developer VSM MedTech of Vancouver, British Columbia, reported lower revenues for the company's second quarter, although the firm's net loss narrowed.
For the period (end-June 30), VSM reported sales of $1.3 million, compared with $2.3 million in the second quarter of fiscal 2004. The company's net loss was $3.8 million for the most recent quarter, compared with a $4.9 million net loss in the corresponding period of the prior year.
The company didn't install any MEG systems in the second quarter, which brought down revenues. At the same time, revenue from the company's vital signs monitoring division grew to $439,000, from $120,000 in the second quarter of 2004.
By AuntMinnie.com staff writers
August 12, 2005
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