Increasing saturation in the U.S. digital mammography equipment market and a decline in its breast MRI business had a negative effect on second quarter sales in 2011 for medical imaging software developer MeVis Medical Solutions.
For the first half of 2011, MeVis had consolidated sales revenue of 6.7 million euros ($9.7 million U.S.), a decline of 9% from the previous year. The composition of consolidated sales changed in favor of the maintenance business, which grew by 18% to 1.34 million euros ($1.95 million U.S.).
The digital mammography business segment fell by only 3% to 5.2 million euros ($7.5 million U.S.) for the first two quarters of 2011, compared with the same time frame in 2010. MeVis attributed the higher share of maintenance revenue of segment sales, 49% compared with 35% the prior year, for minimizing this business segment's loss.
Overall, the share of maintenance revenue increased by 13% from the first half of 2010 to 43% in 2011.
Scheduled depreciation and amortization remained comparable with the prior year, at 1.8 million euros ($2.6 million U.S.). Earnings before interest and taxes was 181,000 euros ($262,000 U.S.), compared with 150,000 euros ($217,000 U.S.) for the first half of 2011 and 2010, respectively.
