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Imaging Dynamics Company Ltd (2)
Symbol IDL
Shares Issued 194,288,356
Close 2015-05-28 C$ 0.02
Market Cap C$ 3,885,767
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Imaging Dynamics Company loses $288,000 in Q1

2015-05-29 16:17 ET - News Release

Dr. Sidong Huang reports

IMAGING DYNAMICS COMPANY ANNOUNCES THIRD QUARTER 2014 RESULTS

Imaging Dynamics Company Ltd. has released its financial results for the 2015 first quarter ended March 31, 2015.

2015 first quarter highlights

Gross revenues for the first quarter of 2015 were $485,000 compared with $398,000 for the same quarter last year, representing an increase of 21.8 per cent in revenues. The increase in revenues during the period is mainly due to sales in the Asia-Pacific, U.S. and Latin America regions, which have been the focus of IDC's management team over the past year.

Sales and marketing, general and administrative, production and manufacturing, and research and development expenses were lower by 10.6 per cent to $476,000 from $533,000 during the first quarter compared with the same quarter last year, due to IDC's continued cost-reduction initiatives.

Net loss for the first quarter ended March 31, 2015, was $288,000 compared with a net loss of $398,000 for the same quarter last year, a significant improvement of 23.6 per cent in performance over the prior-period results.

Dr. Sidong Huang, president and chief executive officer of the company, stated: "IDC continues to progress towards generating revenues and making improvements in its operations in 2015. The efforts demonstrated by IDC's employees, management team and board of directors have shown marked improvements in operating results in the first quarter." The company's focus on sales and marketing efforts have resulted in increased sales from IDC's existing customer base and distribution partners, and in the development of new business relationships with new potential major customers.

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