ImageMatrix reports sharply increased revenues
ImageMatrix (Denver, CO, http://www.image-matrix.com) has released financial results for the second quarter ended June 30, 1997. Q2 '97 revenues were $1,935,000, compared to revenues of $754,000 from Q2 '96, representing an increase of 157%. The net loss for the quarter was $873,000 versus a Q2 '96 net loss of $842,000. "We have invested significant funds in sales and marketing for the last 18 months and we are seeing the results of those investments," said ImageMatrix CEO Gerald Henderson. "We remain focused on increasing revenues, improving our overall gross margin and adding incremental market and distribution partners." Gross margins were down from Q1 '97, Henderson said, "primarily due to competitive pricing on a particular transaction. We feel that this transaction is not indicative of the current set of transactions on which we are currently working."