Versus Technology of Traverse City announced its third-quarter results are in, and they are looking good. The company's revenues were about $1.8 million for the third quarter, a 55-percent increase over last year's third-quarter revenues of about $1.2 million.
And the long-term stats look even better for the company, as the last nine months' revenues were at $6.1 million, a 56-percent increase over the $3.9 million in revenues for the same period of time in 2009.
The numbers mean this quarter was the fourth consecutive quarter of growth over last year's results for the company, and Versus cites growth in their health care services as the reason why.
It's not all bright news in the company's accounting, though; operating expenses also were up in both the third quarter and the year to date, increasing 5.4 percent for the quarter and 13.5 percent for the year over last year's expenses. That means the company's net income for the third quarter was just $38,000.
But, it's still a definite improvement over last year at this time, when Versus had a net loss of $360,000. In the big picture for the last nine months, the company's net income was $450,000, vastly better than those nine months in 2009, when the results showed a net loss of $731,000.
Versus provides technology solutions for health care, specializing in real-time location systems, like patient tracking, equipment tracking and nurse call automation.
Writer: Sam EgglestonSource: Stephanie Bertschy, Versus Technology
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