ContextVision sales drop in Q2, signs new Asian partner

Lower ultrasound sales in the Asian market contributed to an 8% drop in second-quarter sales for image enhancement developer ContextVision.

For the period, ContextVision had net sales of 14 million Swedish kronor (1.6 million euros), down 13% overall and down 8% after adjusting for currency changes from the 16 million Swedish kronor (1.8 million euros) reported in the second quarter of 2012.

Nonetheless, ContextVision was able to lower its net loss from 2.8 million Swedish kronor (330,000 euros) in the second quarter of 2012 to 1.4 million Swedish kronor (160,000 euros) in the 2013 second quarter.

ContextVision pointed to an almost 20% drop in ultrasound sales to Asian customers as the biggest source of sales weakness during the quarter. This drop resulted from several factors, including a delayed contract renewal from a major customer, ContextVision said. The contract was renewed in July, however, and the company said it's again shipping high volumes to the customer.

Other factors included shifts in customers' production cycles and a delayed ordering pattern from global companies, according to the firm.

In a related development, ContextVision announced it has signed a new major Asian ultrasound OEM partner. The new, unnamed client will utilize ContextVision's ultrasound image enhancement offerings.

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