CALGARY, Nov. 28, 2014 /CNW/ - Imaging Dynamics
Company, Ltd. ("IDC" or the "Company") (TSX Venture: IDL-X) is
pleased to announce today the financial results for the third
quarter ended September 30, 2014.
2014 Third Quarter Highlights
Gross revenues for the third quarter were $0.52 million compared to $0.59 million for the same quarter last year, and
sales on a year-to-date basis were higher by 14 percent to
$1.63 million compared to
$1.42 million. The increase in
revenues during the period is mainly due to sales in the
Asia-Pacific region which has been
a focus of IDC this year.
Sales and marketing, general and administrative, production and
manufacturing, and research and development expenses were lower by
26 percent to $0.43 million from
$0.58 million during the third
quarter compared to the same quarter last year, and were reduced by
31 percent to $1.44 million
year-to-date from $2.08 million for
last year due to IDC's continued cost reduction initiatives.
Net loss for the third quarter ended September 30, 2014 was $0.20 million compared to a net loss of
$0.33 million for the same quarter
last year, and the net loss year-to-date for 2014 was $0.81 million compared to a net loss $1.57 million for last year, a significant
improvement of 48% in performance over the prior period
results.
Dr. Sidong Huang, President and CEO of the Company stated:
"I am pleased with the continued efforts demonstrated by IDC,
its employees, management team and Board of Directors in making
improvements in sales and operating results during the 2014 year".
The Company's sales and marketing efforts have been
focused on increasing sales from IDC's existing customers and in
developing relationships with potential new distribution
partners.
About Imaging Dynamics Company (IDC):
IDC is a global medical imaging technology provider and
innovative force in the high growth field of digital radiography
(DR) technology.
The Company has over 4,000 installations in 50 countries of its
proprietary, award winning direct capture DR technology, which
replaces conventional film-based diagnostic imaging and provides a
cost-effective solution for medical facilities of all sizes to
provide high quality diagnostic X-ray images and improve the level
of healthcare for their patients.
Throughout its history, IDC has been recognized by multiple
industry organizations and research analysts such as: Frost &
Sullivan and Deloitte Technology; for its dedication to innovation,
global market growth, and customer focused value proposition.
The Company has its corporate office in Calgary, Alberta, Canada, and a representative
office in Beijing, China.
Visit the IDC web site: www.imagingdynamics.com
Statements in this release which describe IDC's intentions,
expectations or predictions, or which relate to matters that are
not historicalfacts are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties which maycause the actual results, performances or
achievements of IDC to be materially different from any future
results, performances orachievements expressed in or implied by
such forward-looking statements. IDC may update or revise any
forward-looking statements,whether as a result of new information,
future events or changing market and business conditions. Known and
unknown risks anduncertainties include: IDC's ability to
manufacture its products with a sufficient level of quality and in
volumes which satisfy market demand;the ability of IDC to establish
direct and indirect sales channels; the ability of IDC to establish
industry partnerships; IDC's ability to attractand retain key
personnel; the strength and breadth of IDC's patents; and other
factors relating to general economic conditions, specific industry
conditions and IDC's particular situation.
SOURCE Imaging Dynamics Company Ltd.