Calgary, Alberta / ACCESSWIRE / November 27, 2015 / Imaging Dynamics Company, Ltd. ("IDC" or the "Company") (TSX Venture: IDL-X) announces today the financial results for the 2015 third quarter period ended September 30, 2015.
2015 Third Quarter Highlights
Gross revenues for the third quarter of 2015 were $0.874 million compared to $0.521 million for the same quarter last year representing an increase of 67.6% in revenues. The increase in sales revenues during the period is mainly due to higher sales in the Asia-Pacific region, the main focus of IDC, and also higher sales in the USA region. On a year-to-date basis, revenues were $1.977 million compared to $1.636 million in the prior year, an increase of 20.8% over the comparative period.
Sales and marketing, general and administrative, production and manufacturing, and research and development expenses for the second quarter increased to $0.708 million from $0.433 million during the same quarter last year, and were $1.847 million on a year-to date basis compared to $1.440 million in the prior year. The Company committed additional sales and marketing expenses during this period focusing on generating additional sales revenues.
Net loss for the third quarter ended September 30, 2015 was $0.366 million compared to a net loss of $0.204 million for the same quarter last year, and the net loss was $1.275 million on a year-to-date basis compared to $0.811 million for the same period last year.
Dr. Sidong Huang, President of the IDC stated: "Our focus on sales and marketing efforts resulted in additional sales revenues during this quarter. IDC's continues to focus on generating sales from its current customer base and distribution partners, and in addition on the development of new business relationships and opportunities with new potential major customers globally.
About Imaging Dynamics Company
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, Canada, a representative office in Beijing, China, and also an operations and R&D center in Shanghai, China.
Visit the IDC web site: www.imagingdynamics.com
For more information, please contact:
Dr. Sidong Huang
President
1.403.251.9939 Office
1.866.975.6737 Toll Free
sidong@imagingdynamics.com
Mr. Xin Cheng
Assistant Corporate Secretary
1.403.251.9939 Office
1.866.975.6737 Toll Free
chengxin@imagingdynamics.com
Statements in this release which describe IDC's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of IDC to be materially different from any future results, performances or achievements 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 and uncertainties 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 attract and 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.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Source: Imaging Dynamics Company, Ltd.
