MeVis sales dip, but net loss improvesBy AuntMinnieEurope.com staff writers
April 25, 2012 -- A weaker dollar contributed to lower net sales for German medical imaging software developer MeVis Medical Solutions, but a cost reduction initiative led to a lower net loss in fiscal 2011.
For the year (end-December 31), MeVis had consolidated sales of 13.7 million euros ($18 million U.S.), down 4% from the 14.3 million euros ($18.8 million U.S.) reported in 2010. A weak dollar, which contributed three percentage points to the decline, was a significant factor in the lower sales numbers, according to the company. MeVis noted that an increase in maintenance revenues helped balance out a decline in its licensing activities.
Cost-cutting initiatives contributed to a lower net loss in 2011 of 4.1 million euros ($5.4 million U.S.), an improvement from a net loss of 8.4 million euros ($11.1 million U.S.) in 2010. MeVis said it is forecasting stable revenues and a slight increase in earnings before interest and taxes in 2012, with higher sales and revenue figures in 2013.
Copyright © 2012 AuntMinnieEurope.com
Last Updated rm 4/25/2012 9:02:48 AM