Auxilio Revenue Up, Loss Wider for Q1Wednesday, May 16, 2012
Auxilio Inc., a Mission Viejo-based company that helps hospitals and healthcare providers cut their dependence on paper records, said its revenue grew 40% in the first quarter while its loss widened from a year earlier.
Auxilio reported revenue of $6.5 million in the quarter, compared to $4.7 million a year earlier.
Its first-quarter loss was $1.6 million, compared to a loss of $860,000 a year earlier.
The company attributed the revenue growth to new contracts, including one with Catholic Health East, a Newtown Square, Pa.-based hospital chain.
Auxilio did not offer a forecast for the current quarter in its earnings release.
No investment bank-based analysts follow the company, whose stock is traded on the low-profile over-the-counter bulletin board exchange, with a recent market value of about $23 million.