Streamline stays in red for 2Q
Streamline Health Solutions Inc. reduced its net loss year over year and offered a more optimistic view for the next 12 to 36 months.
The software company posted a second-quarter net loss of $429,000, or 5 cents per share, compared to $1.1 million, or 12 cents per share in the year-ago quarter. Revenues grew to $1.3 million from $101,200.
For the first six months of 2008, Streamline reported a net loss of $1.2 million, or 13 cents per share, versus a loss of $1.5 million, or 16 cents per share, in the same 2007 period. Revenues grew to $1.6 million from $864,300.
Brian Patsy, president and CEO, noted in a news release that revenues have grown more than 50 percent year over year, while the net loss has narrowed. Four new recently announced contracts should add more than $5 million to future revenues.
“The addition of four new clients, two through our partners and two direct by our sales force, indicate we are achieving significant traction with our sales and marketing initiatives so far this year,” Patsy said no fax payday loan paydayloan.
Shares of Streamline (NASDAQ: STRM) opened at $2.54 Wednesday morning.
Streamline Health Solutions, based in Cincinnati, is a supplier of workflow and document management tools, applications and services to businesses, specifically health-care organizations.
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