Business
IDC REPORTS THIRD QUARTER 2010 RESULTS
IDC REPORTS THIRD QUARTER 2010 RESULTS
About this update from Imaging Dynamics Company, Ltd.
[{"type":"text","content":"\n\n\n\n Nov. 10, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY, Nov. 10 /CNW/ - Imaging Dynamics Company Ltd. ("IDC" or the\n "Company") (TSX: IDL) a global leader in the digital radiography (DR)\n equipment market, today reported financial results for the third\n quarter September 30, 2010.\n\n\nThird Quarter 2010 Highlights\n\n\n\nClosed on the rights offering during the quarter and raised gross\n proceeds of $1.5 million and net of share issue costs of $1.3 million;\n\n\nReduced receivables by $0.8 million compared to December 31, 2009 on the\n collection of approximately $4.0 million during the nine months ended\n September 30, 2010; Days Sales Outstanding (DSO) for the quarter\n reduced to 67 days from 122 days for the same quarter last year;\n\n\nReduced inventory by $1.2 million compared to December 31, 2009;\n\n\nPayables and accruals decreased by $0.3 million compared to December 31\n 2009;\n\n\nSales and marketing, general and administrative, production and\n manufacturing and research and development expenses were reduced by\n 18.2 percent to $1.2 million from $1.5 million during the quarter\n compared to the same quarter last year and were reduced by 21.9 percent\n to $4.0 million from $5.2 million on a year to date basis compared to\n the same period last year;\n\n\nReduced total expenses by 27.1 percent to $1.4 million from $1.9 million\n during the quarter compared to the same quarter last year and reduced\n by 30.4 percent to $4.7 ...