ISG posts healthy quarter, inks Philips deal

ISG Technologies recorded healthy gains in revenue during its first quarter, which is traditionally the software developer’s weakest revenue-generating period. Revenue grew 10%, while net income also climbed during the quarter (end-September).

For the period, the Mississauga, Ontario-based firm reported revenue of $5.8 million (U.S.), compared with $5.3 million last year. Net income grew to $187,000, compared with $5800 in 1997.

In other ISG news, the company has signed a 10-year software development agreement with Philips Medical Systems. ISG will supply the Shelton, CT-based company with various medical imaging products and custom engineering services. Specifically, ISG will continue to develop image viewing, image processing, and filming software for the primary console for the modality vendor’s Gyroscan NT MRI scanner. It will also provide ISG services for other Philips medical products in the future.

Philips, which has maintained a supply relationship with ISG since 1988, also recently signed an agreement to join the Surgical Navigation Network, a consortium of companies working to integrate image-guided surgery technology products. SNN companies have agreed to use the Windows NT-based image-guided surgery software system produced by Surgical Navigation Specialists, a joint venture between ISG and Carl Zeiss (SCAN 9/16/98).