A weaker dollar contributed to lower net sales for German medical imaging software developer MeVis Medical Solutions, but a cost reduction initiative led to a lower net loss in fiscal 2011.
For the year (end-31 December), MeVis had consolidated sales of 13.7 million euros, down 4% from the 14.3 million euros reported in 2010. A weak dollar, which contributed three percentage points to the decline, was a significant factor in the lower sales numbers, according to the company. MeVis noted that an increase in maintenance revenues helped balance out a decline in its licensing activities.
Cost-cutting initiatives contributed to a lower net loss in 2011 of 4.1 million euros, an improvement from a net loss of 8.4 million euros in 2010. MeVis said it is forecasting stable revenues and a slight increase in earnings before interest and taxes in 2012, with higher sales and revenue figures in 2013.
