Scan-Optics Posts 1997 Financial Results
Scan-Optics (Manchester, CT) reports Q4 and YE '97 financial results. Q4 revenue of $15.3 million compares with Q4 '96 revenue of $14.3 million. Net income of $2.4 million is up 15% from Q4 '96. For the year, Scan-Optics posts revenue of $56.6 million and a net income of $5.790 million, up 23% and 77%, respectively, from fiscal 1996. 1997 figures represent records for the company. The growth is attributed to the acceleration of the company's investment in software, service and solution content, according to chairman, CEO and president James Mavel. During the quarter Scan-Optics released the ImageEMC++ claims processing solution for the healthcare market, and signed a licensing agreement with Imaging Business Machines (Birmingham, AL).