Imaging Dynamics posts Q2 revenue decline

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Digital radiography equipment developer Imaging Dynamics has reported that although the firm posted a decline in net revenue, it was able to trim net losses in its fiscal 2009 second quarter, which ended June 30.

The Calgary, Alberta-based company reported that net revenue declined to $3.9 million for the period, compared with $5.3 million in net revenues for the second quarter of fiscal 2008.

Imaging Dynamics  reported a net loss for the second quarter of $1.43 million, an improvement compared with a net loss of $3.25 million for the same quarter in 2008. IDC also reported a year-to-date net loss of $2.94 million, compared with a net loss of $5.7 million for the same period a year ago.

“Our expenses are in line with expectations and we are effectively managing our working capital without having to access the credit facility that is now in place with existing investors," said Tom Boon, IDC’s president and CEO.