Business
IDC reports 2007 results and announces the election of M. Thomas Boon to the Board of Directors
CALGARY, March 13 /CNW/ - Imaging Dynamics Company Ltd. (IDC or the Company) (TSX: IDL) a global ...
About this update from Imaging Dynamics Company, Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, March 13 /CNW/ - Imaging Dynamics Company Ltd. (IDC or the\nCompany) (TSX: IDL) a global supplier in the high growth digital radiography\n(DR) equipment market, today reported financial results for the fourth quarter\nand the full year ended December 31, 2007. For the 2007 year, IDC reported a\nloss of $0.21 per share before interest and inventory write down, for a\nfull-year loss after interest and write downs of $0.24 per share on revenues\nof $32,446,401 as compared to a loss of $0.25 per share on revenues of\n$39,030,402 last year. For the fourth quarter, the Company reported a loss of\n$0.07 per share before interest and inventory write down, and a loss after\ninterest and write downs of $0.10 per share on revenues of $8,263,103 as\ncompared to a loss of $0.19 per share on revenues of $12,533,867 in Q4 2006.\n\n\nCommenting on the 2007 results, Tom Boon, IDC's President & CEO said, "I\nam confident that our 2007 results are not indicative of the opportunities\nthat lie ahead for IDC. I joined this Company because I have had first-hand\nexperience with IDC's award-winning product, global distribution and committed\nemployee team. IDC has all the ingredients required, for profitable growth,\nand our new leadership team is executing on a plan to realize the Company's\npotential. I look forward to delivering substantially better results in 2008."\n\n\nIn addition, IDC announces that M. Thomas Boon was elected to the Board\nof Directors effective immediately. Mr. Boon, who joined the company as\nPresident & CEO in February 2008, has 35 years of industry experience in\nstrategic and senior management positions at companies such as AGFA\nCorporation and Eastman Kodak Company.\n\n\n"In the short time Tom Boon has been president and CEO of IDC, we have\nalready seen the positive impact of his leadership skills and industry\nexperience," said Chairman Jerry C. Cirino. "On behalf of the IDC Board of\nDirectors, I am excited to welcome Tom to the board, and draw on his\nsuccessful career in achieving consistent and profitable growth in\ninternational medical technology markets."\n\n\nA conference call to review the results will take place on Friday,\nMarch 14th at 8:00 a.m. EDT (6:00 a.m. MDT). To participate in the call,\nplease dial 416.644.3417 or 800.732.6179 approximately 5 mi...