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Friday, July 29, 2011 1:31:11 PM
During the 1st quarter, we did not renew three contracts in our medical physics staffing division. Subsequently, this had an appreciable impact to our revenue for that period. In turn we reduced staff by two medical physicists and one administrative position to adjust for the reduced demand in that division. We have been successful in signing two additional contracts for startup physics support at two new veterinary radiation oncology practices; one in the Pittsburgh area and the other in North Carolina. Both of these contracts included continuing physics support which will contribute additional long term revenue flow to the company. Revenue from these contracts was not generated in the first quarter; however2011, revenue from them was generated and did show up in the second quarter.
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