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IMRIS sees boost in Q4 revenue
IMRIS, makers of magnetic resonance imaging machines, reported higher revenue toward the end of 2012. (KEN GIGLIOTTI / WINNIPEG FREE PRESS ARCHIVES) Photo Store
IMRIS Inc. reported revenue of $20.1 million for the fourth quarter of 2012, a 37 per cent improvement over the same period the year before.
The Winnipeg medical device company, which is moving its entire operations to Minneapolis in 2013, also reported a net loss for the period of $6.6 million that was 33 per cent larger than its net loss for the fourth quarter of 2011.
For the full year, 2012, IMRIS generated revenue of $52.4 compared to $51.8 million in 2011 and recorded total net losses for the year of $27.5 million compared to a net loss of $20.9 million in 2011.
The company grew its order backlog by $24 million during the quarter and its backlog increased 29 per cent during 2012 to $123 million as of Dec. 31, 2012.
IMRIS’s fourth quarter results were released after markets closed. Its shares were down six cents on Tuesday to $4.20.
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