IDC reports drop in DR demand

Gross revenues fell 16.6% for digital radiography vendor IDC in the third quarter compared to the year earlier period.  For the year, gross revenues were down 40.1% compared to the previous nine-month period. Executives blame the decline primarily on falling demand in the U.S.  Despite shrinking revenues, however, the company pared its net loss in 3Q to $1.5 million from a net loss of $2.7 in the previous year 3Q, an improvement achieved by belt tightening measures that cut the quarter’s expenses by 44.4% to $1.5 million. Commenting on the third quarter 2009 results, IDC President and CEO Tom Boon said the results were below expectations, but noted that the company is continuing to cut costs and improve management processes.