CardioNet Trims Loss in Q1

CardioNet's  (NASDAQ: BEAT  ) results for the fiscal Q1 2013 have been released. For the quarter, top line came in at $32.4 million, a nearly 20% increase from the $27.0 million recorded in the same period the previous year. Net loss narrowed over that time span, to $2.1 million ($0.08 per diluted share) from Q1 2012's red figure of $3.5 million ($0.14).

CardioNet attributed the higher revenue figure to growth in its take for research services, which improved by $5.4 million on a year-over-year basis. This was due in large part to its acquisition of research entity Cardiocore last summer. Additionally, patient services revenue was $1.0 million higher in the most recent quarter.


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