LanVision reports Q2 '97 financial results

LanVision (Nasdaq: LANV) (Cincinnati, OH, http://www.lanvision.com

) announces Q2 '97 financial results. Revenue of $1,568,786 compares with revenue of $3,370,137 in Q2 '96, and is approximately $2.6 million below the company's internal projection plans. Extended sales cycles, competition and a slower-than-expected market for document imaging solutions are named as contributing factors to this shortfall. A net loss of $3,531,223 compares with a Q2 '96 net loss of $138,581. Planned expansion of the organization "is currently at a much slower pace than in 1996," says LanVision president and CEO Brian Patsy. "We will continue to monitor and assess market growth opportunities and adjust our plans accordingly." LanVision stock traded down 1/4 on Thursday, to $6 a share.